Well, thats what it looks like! Here's the readme
XeLL is the Xenon Linux Loader. It's a second-stage bootloader and is
usually run by an exploit. The method of booting this is not a part of this
project. XeLL catches CPU threads, sets them up (basically setting HRMOR to zero), loads an ELF file from either network (tftp) or CDROM, and launches it. It also contains a flat device tree for linux. cdrom.c includes a very simple ISO9660 parser, which tries to boot the file named.