When lilo locates more kernels in /boot and generates appropiate entries in /etc/lilo.conf it generates lines with initrd that are the standard initrd instead of looking of an initrd with the same version as the kernel in question. I would just recommend that it looked for that version first (would have saved me an hour or so before I found out). That is if the kernel is /boot/vmlinuz-2.2.17-21mdk the initrd should be /boot/initrd-2.2.17-21mdk.img (and not /boot/initrd.img)
Kind regards Keld
