Installed the newest version of Ultimate Toolbox and tried to use this option, it stayed on this screen for a little bit before freezing the system. Does that mean it did it? :
PS3: Ultimate Toolbox 2.01 released - Wololo.net
PS3 Ultimate Toolbox v2.03 by DeViL303 - Consoleinfo
PS3 Ultimate Toolbox - Your PS3 NEEDS This NOW! - Bilibili