I was working on this as well, while I was region modding my system I tried hooking a 5V source to the hucard's 5V pin with a jumper wire, and it seemed to work in the 2 minutes that I tested it, but I definately wouldn't call this a fix since I didn't spend time really testing it.
Long story short, the region mod didn't work, BlueBMW (who knew nothing of my playing with the power) fixed the region mod for me, and when I got it back the flash cart worked 100%, either with or without a Turbo CD attached. Weird.