I've checked out ultimate boot cd 4.1.1. and I've seen that you use syslinux and memdisk.
Using Grub (or Supergrub
) with memdisk you can do the same thing.
More than this... Super Grub Disk has a set of scripts to create lst files so that you can go back in menues (similar to what you do right now).
You could also put some text explanations (to explain what a program does) each time you open a menu.
And Super Grub Disk has some useful grub_device variables.
I also have to say that you could install the "SGDUBC" to a pendrive the same way nowadays you can install SGD to a pendrive. The bad thing about it is that you need to do that under a linux environment.
With SGD you could write the explanations in various languages too.
You could also use a gfxboot background to make ubcd fancier but I think it is not important.
If you get bored of isolinux or you want me to write you a little example on how could UBCD be done just ask me.