If you're rooted, any app running as root can write anything to anywhere. Or you can give the user everyone full access to the card, then any app can write to any folder. No need for the LolliFlop flea circus to use the SD card.
As for the update, 5.0-5.0.2 have the memory leak bug. If Verizon is waiting for test results on their version of 5.1, good for them. Anyone can release bugs - it takes time to release an update with tiny bugs that don't affect many people. (All software has bugs, but bricking a phone [4.3 on the S3], or a memory leak in 3GB [LolliFlop], just isn't acceptable. Would you buy a car if only 3 of the wheels actually turned? Or would you rather wait until they got that "little bug" worked out? [Remember Toyota and the brake pedal that didn't actually stop the car? Just a little bug, right?])