Yes, you can have multiple images on your SD card, and you can quickly choose which one you want to boot to in the main menu or with the switches.
Personally, I think it's a lot simpler to use the menu than to have to remember a bunch of switch combinations:
Hold up START and push the left AUX up, and you get the main menu. In there, I have the disk boot ROM as my Aux1 Up selection, and I have my favorite CP/M disk selected as my boot disk.
Save that to the default profile with "S".
After that, you can easily switch disks in the menu, then once you have exited the menu, just press Aux 1 Up to boot to that disk.