Hmmm...I would love to take a stab at it.
I have fathoms remix 5 installed to hdd and have played with it alot while trying to make my own
slackware based version of nFlux here
It uses older squashfs like slax 6.1.2
fathom's remix uses newer 4.0 version I think...
And you want all those as modules?
Maybe clump some of them together into single .lzm's like "rescue.lzm", etc?
The more modules=more resources I think also
but slax can load some or all you know..
So, anyway I could definitely do it, with debian or buntu even easier
but, I actually like slax's persistent feature better as the slaxsave.dat or slaxsave.xfs can be on same partition as slax and
its easier in some ways
PureOS is a debian squeeze system built in slax fashion
and that might be an even better option.
So, go here look at some of my stuff and if you wanna work something out answer back.