Everything is possible !
I don't know about modifying the lowser script since it basically scan directories from where it is launched, but maybe by specifying it as a parameter to the player ?
i.e. by putting the system.lua (from System) at the same level of the elf :
\Applications
\System
\luaplayer.elf
\system.lua
it could then be run with "luaplayer.elf SambaDrive:/path/system.lua", giving the same result
