Did some testing with 1.2.0.1 beta.
Hardware:
-SCPH-50001
-Sony Network Adapter with bitfunx SATA kit
-Seagate Barracude 2TB drive
Created exFAT partition inside a GPT table. Copied one PS2 game to DVD folder on drive. Was able to boot game successfully.
Powered off PS2, removed drive, and reattached to PC. parted and gdisk both reported that the primary copy of the GPT table had been corrupted, but the second backup table on the drive was still present and uncorrupted. (A very nice feature of GPT!)
Replaced primary GPT table with backup. Mounted exFAT partition in PC, saw that all of the OPL folders were still present, along with game in DVD folder.
Put drive back in PS2, was able to load the game successfully again.
Reattached drive to computer, and the primary GPT table is once again corrupted. Restored table from backup, remounted exFAT partition, data was still present.
I then decided to wipe the drive, and create a new exFAT partition inside a new MBR partition table. Copied over game, loaded game successfully in PS2. Attached drive to computer, and MBR partition table is uncorrupted and still correct. Mounted exFAT partition to find all data present. Hooked drive back up to PS2, loaded game successfully again, reattached drive to PC, mounted exFAT partition successfully again.
tl;dr: It seems to me that the OPL beta 1.2.0.1 posted here works perfectly, but only with a drive formatted with MBR, and not GPT. OPL appears to be rewriting the GPT partition table on the disk with some sort of malfunction, corrupting it.
Please let me know if I can perform any further testing for you.