Unfortunately this will not fix the issue. Tried adding an extra voltage regulator dedicated for just the region mod and 5 volts still doesn't cut it for the newer 2.4 everdrive. At least with this region mod.
It may have something to do with the response time of the chips. Does the region mod use high speed (HC) or low speed (LS) chips? It may be that the turbo Everdrive has additional circuitry creating a slight propigation delay sending requests for ROM address from the ED RAM to the console. If the Everdrive is just barely sending the signal on time, then even a very slight propigation delay by the logic chip could cause a miss, crashing the console CPU.
All digital logic gates have a slew rate, or the time a logic signal takes to transition from low to high or high to low. Increasing the VCC voltage to the chip will improve the slew rate but also consume more current during a transiton. An overvolted logic chip will change states more quickly, a principal often employed with over- or underclocking CPU in modern microprocessors, to change performance vs efficiency.
A modest increase from 5V to say 6V may improve the slew rate of the chip enough so that the console works, but anything over 5.6V and you run the risk of dumping current through the ESD protection diodes within the chips. This will cause unnecessary heating of the components possibly shortening useful service life. So if you're going to overvolt the regionmod logic chip, series resistors need to be added to limit current. 4.7k-10k might be a suitable range. Also, the region mod chip should never be run off the unregulated DC input. A voltage setting slightly over the lowest threshold that yields satisfactory results should be used in this instance, which may warrant a tunable regulator circuit.
It is unfortunate that the logic in the region mods is not adequate to get the job done. A simple 8P2T switch can be installed on the case (or quad ganged DPDT if a rare 8 pole switch cannot be found) as mechanical switches are bidirectional and have no propigation delay, but then you run the risk of longer leads to mount the switch in a convenient location. Too long leads can cause the traces to act as mini antennas, picking up or transmiting interference, have cross talk issues, or can otherwise attenuate high frequency signals.