Hi Carl I bought one of these things for £20 on ebay a while back. The answer is no you cannot install any os on these 'sub netbooks' all data related to the os is stored on a volatile rom chip. This means that you cannot even install any new software and if you save documents to the defualt folder they will be lost upon reboot.
I wonder if you could boot to flash, or an external hd. That way you can make a bootable partition on an external to use but you would have to have that plugged in at all times. Sort of like portable linux builds that you can fit on a flash drive.