Thats a prett cool way of doing it. And what I hopped for the UAE AROS intergration.
Is the AOS4.1 or MorphOS way of doing it the same ?
No, they use a CPU emulator... That gives the 68k app full access to the operating system. Their approach is faster but means that a rogue app can take down the system and you can't have any hardware hitting apps

-edit- The AROS approach allows only the 68k app's I/O operations to be shared with the native system.