Oh well formatting in Windows gave the same result. What's more, the flash drive becomes unreadable after trying to boot from it!
I don't get the same error as you, for me it's worse, I see boot0: error and then nothing else happens.
This should work, I think we are missing something but I don't know what.
For some reason I cannot use the new fdisk that ships with the Chameleon source, I get "permission denied" whenever I try to run it. Mine bombs out at boot0 because I'm using an older fdisk binary I guess.
/EDIT - after setting the flash drive partition active with fdisk I see the same error message as you.
I'm sure you will be able to boot if you can figure out a way to install Chameleon on FAT32 on your flash drive. Perhaps you could even initialize the EFI partition on your HDD to FAT32 and boot from that. But at this point I have no idea how this is supposed to work.
Hopefully someone else will see this thread and suggest something. In the meantime I'll hit google and see what I can find.
Try the password thing in your BIOS with Chameleon installed to the EFI partition on your HDD (see previous page).
Another thing; can I ask you to please don't quote my posts in their entirety when replying? As you may have noticed, I have edited all your previous posts and removed or trimmed the quotes. There is no reason to full-quote when you reply is directly below the post you are replying to, in the end the thread will be full of quotes with repeating garbage text that you have to scroll past and that is bad for readability.