Does Froyo 2.2.1 still work on rooted Nook color?

I'm thinking about getting the Nook color, and rooting it. However i do want the library, book, ereader thing that Barnes&Noble has (Not the app from the android store.) The actual installed one on the Nook color. I was watching some videos and wanted to know 2 things. 1.) Does Froyo 2.2.1 on a rooted Nook Color allow you to keep Barnes&Nobles Library setup? 2.) Does this newer updated version of the nook color (the ones being sold in stores now) allow Froyo or is too updated and may brick my tablet? Thanks. P.S. I know about CM7 and Gingerbread and Honeycomb but they don't keep the Nooks installed library.