Same problem with dmesg error messages. Similar errors I was getting in U-boot (when I tried to activate mmc) and in U-Boot was problem that mmc/sd card was not activated with twl4030 regulator.

So I think this is problem in Nemo kernel. (U-Boot maybe does not set same sd state as NOLO, but kernel should not depends on bad bootloader).

Can somebody ask maintainers/developers of Nemo kernel about this problem? At least default Nokia Maemo 2.6.28 has no problems with eMMC/SD memory.