Great explanation on how live CDs work from polishlinux.com
I've learned a lot from polishlinux.com, and here's another great article: SLAX 6.0: How does it work?
I've been a little worried about Slax -- it seems that its main developer is taking a break. The Slax site itself is linking to a blog.
I've always been very impressed with Slax -- and it's the basis for Wolvix, my current No. 1 distribution, so I hope Tomas Matejicek, who lives in the Czech Republic, continues his work on Slax.
According to the blog, he is retiring Slax 5, but planning working on both Slax 6 and 7. He has restored the old Slax site and is hosting it here.
In case you didn't know, Slax is a live CD based on Slackware, with a standard edition based on KDE, the Kill Bill edition with Wine, a server edition, a smaller desktop version called Popcorn and a minimal command-line version called Frodo that the others are built upon. Find them all here.
I'll definitely be keeping an eye on Slax.