The cold boot is not helping on the MC55A with WM6.5.  I'll just install the 'regular' version of the cab.

I noticed the same thing on a CE device.  I needed to cold boot to get the shortcut. Look at the quick start guide in the help file.  I'll paste in a section below.  If you are running Win Mobile, I don't think you will want to instal the persistent version by itself, you might want to install both.  In the case of Win Mobile, I think the persistant version would install itself after a clean boot (not cold).  Regular The regular runtime version of RhoElements installs to the "\Program Files" directory and can be run immediately after installation. This version will get removed from the device if cold-booted. Persistent The persistent runtime version of RhoElements installs to the "\Application" directory and cannot be run immediately after installation. The purpose of the persistent runtime is to allow RhoElements to remain on the device after being cold booted. On cold-boot, the RhoElements persistent installation is copied to the "\Program Files\RhoElements" directory. Therefore the device must be cold booted to make the persistent installation usable. Note: The files in \Applications\RhoElements should not be run for normal use as these should be solely for backup purposes. Always run RhoElements from the executable file: "\Program Files\RhoElements\RhoElements.exe".