You might get it working without recompile, by just making a new initrd.
However the kernel is compiled for 2MB ramdisk so the image won't fit.
workaround: Use append option to increase ramdisk size to 8192k
Obvious you have to customize the linuxrc script too
To get you started on the packing/unpacking of initrd:
unpacking initrd.gz:
gunzip initrd.gz (btw: this step dumps bootsplash logo)
mount -t ext2 -o loop initrd /mnt/ramdisk
Now you can copy the initrd contents to your "ramdisk" folder.
(over here /root/pxegeex/ramdisk)
To create initrd.gz
#gen 8M file
dd if=/dev/zero of=/root/ram8 bs=1024 count=8192
# format this file as ext2
mke2fs -m 0 -F /root/ram8
#mount the (empty) file
mount -t ext2 -o loop /root/ram8 /mnt/ramdisk
# copy required stuff
cp -dpR /root/pxegeex/ramdisk/* /mnt/ramdisk
#unmount
umount /mnt/ramdisk
# zip to destination
gzip -c /root/ram8 > /root/ram8.gz
#Here logo can be re-added, for now skip
mv /root/ram8.gz /mnt/tftp/geexbox/initrd.gz
In your case, extend the script so it creates the mknbi image