Well, it will involve remounting the filesystem r/w briefly to change the symlink (or rename a directory), but only if the user selects a different option than the current setup. Just use the "nocheck" option when doing the remount so that it is instantaneous, as in:
mount / -oremount,rw,nocheck
rm -f /empeg
ln -s /empeg-v2final /empeg
mount / -oremount,ro
Of course, this whole thing could just be a shell script like the above, invoked on demand from a Hijack menu option once I fix the EXEC stuff (Real Soon Now.. maybe even this weekend, since it's too bloody cold out to play hockey).
Cheers