Wait a sec, what's actually the problem? What part of the system is complaining? Since you apparently could load Frodo, the SMC is at least somehow working. That doesn't sound like the totally-dead-SMC problem I was aiming at...
I have a similar sort of problem with a certain SMC card. I mention it in this thread. But, in a bit more detail:
I have 2 SMCs right now (others are shipping). One is a 32MB and the other is 64MB. The 32MB is the one I initially tried in the GP32 and it is working great. I can use PCLink to copy over files. However, the 64MB seems to fail on format via PCLink. So, I format it in my SMC writer/reader, copy from my 32MB SMC to the 64MB SMC and the GP32 can play all the files on the 64MB SMC. However, PCLink still refuses to see it as a working SMC card.
I do not know the brand of either of my SMC cards. They are old ones I have had using with my RIO500 player. The ones on order are 128MB Samsung SMCs so I'll be experimenting with those and my 32MB SMC. Perhaps the 64MB is a cheapass "not Samsung quality" brand.
Right now I am afraid to use my writer to copy files to the 32MB SMC in case something goes oddly wrong and PCLink no longer sees it as a valid SMC card.