I had the same “Loading Romprog.EXE from card”, that hanged on forever, or changed to random bitmap….
And I used very old and used 1 GB Sandisk reformated in Eclipse….. No success.
After formating to FAT on PC things have changed. There was not “Loading Romprog.EXE from card” (or maybe just for very short time) and the display was lively and fast updating and shoving what is downloading and task progression in percent.
I updated from 2.50 to 3.51 and after that to 4.01. I had bootloader 1.11 that has been updated to 1.25 (do not know when, I checked version after 4.01 has been installed).