Don't use that method.
The method I was talking about uses PSXlauncher that I mentioned before, it's a much safer method.
It should be well known by now specially for those that used a method like the one shown in the vid you posted that doing that will eventually break the spindle that holds the discs from the amount of PSX consoles that have ended up with broken CD grips on the spindle and motors that can't spin up properly.
1. you do not change discs while the drive still spins (unless you want to mess the drive up, forcing the motor to stop while you change discs will damage the motor eventually it will also mess the CD/DVD clip as well pulling a disc out while it is still trying to spin)
2. you do this via the software PSXlauncher that is ran via FMCB
3. If you want the option shown on the main screen just add PSXLauncher to the Configure OSDSYS options in FMCB
http://www.youtube.com/watch?v=GFJvqe9UBhw a youtube for you though the creator of the vid obviously does not know that you can use FMCB to create a menu or even a short cut commend to run the extra software through it so he uses uLaunchElf that is really not needed for this
possibly not the best vid but couldn't be bothered looking at all the vids to find a good one