SMF Update to 2.0 done. Default theme set to curve w/TCL stuff for all users. Installed Bad Behavior Mod, notCaptcha Mod, Anti-Spam-Link Mod. dokuwiki updated to "Rincewind", SMF auth is working again.
You don't need to do a reinstall to update. Once your bootloader etc are in place, just download the latest tinycore.gz and kernel. The wiki is more precise on that.
By default, every time TC boots, it reloads the extensions and files contained in the 'tce' directory.