I have one of the above boards and very nice it is too.
It is however not as easy to use with the Philips flash utility as it should be.
The Reset can be asserted from the serial port but not the BSL line. So you have to continually put the BSL jumper on to Program and then take it off and press reset to Run the application.
The Philips software supports asserting the BSL line from the RTS line on the serial port.
I looked at the circuit and realized I could get the Olimex board to work full automatically with the addition of just two patch wires.
Heres how you do it. (As code to stop the smileys)
Wire 1 between RS232 pin 7 and the R1IN (U2 Pin 8).
Wire 2 between U2 Pin 9 (R29 pad) and BSL (BSL end of R8).
I tried it and it works. Now I can Flash and run the software all from the PC with no messing with jumpers
I hope Olimex can modify the next batch of boards with zero ohm resistor positions or jumpers to save having to patch the board.