The main problem with removing that bottom cover is that you remove the stand grip, which means you would have to set the VB on top of something in order to play it, and then you might bend the PCB or something...
As far as cartridge dumping, I know DogP has tried several methods over the years. I recently noticed that somebody
managed to interface one with a Retrode, but the original prototype of the Retrode was just an ATmega168 with V-USB pretending to be a read-only mass storage device. The main issue with all of the solutions over the years has been that getting a cartridge connector either meant destroying a Virtual Boy to get one

or building your own... The guy who interfaced his Retrode
actually built a connector out of PCMCIA pins.

Is there a male counterpart to that connector you decided on? If so, that would be a fantastic thing for the community.
I actually don't mind the name VBoot, but if you're looking for more names, how about VBSD (since it loads from an SD card)? Or, since FlashBoy is taken, what about VirtualFlash?
Also, I just wanted to say that what you're doing is really cool... I wish I had the skills to design stuff like VBoot... Keep up the good work!