I just found this nice Japaneese utility myself not long ago. You should check out his replacement file dialog utility too, that hooks the MS common "Open" with something that actually lets you see the files on your system. Imagine that!
Anyway, FOS works on my ipaq 2210. As I understood it, it would work in any directory as long as the EXE was in that directory with the fonts. However, I don't see how that's possible since WinCE does not have the concept of "current" or "working" directory. Paths have to be given explicitly. Weird! As such, he couldn't just open files "in the current directory" because there's no way to know what that is.
So, I created a \SD Card\Fonts directory, put the EXE in that, and ran it, and by golly, it worked! Note that I had some strange things happen a few times (deleted fonts in \Windows and they were deleted in \SD Card\Fonts...probably exactly what it's supposed to do, but I didn't realize it since there's no English documentation), and sometimes it doesn't seem to "grab" the OS, so I have to close it, then run it again.
Keep plugging away. One good way to test is to use the PHM Fonts utility, which is a control panel cpl in \windows (part of PHM Power Toys). With your fonts on \<whatever file store name>\Fonts, and nothing in \Windows\Fonts, run the PHM fonts utility and if you're running, you should see all the fonts you have added.
Hope that helps.
Mike Welch
Dallas Area