[Ornate TrueSmart] -Android Freak-:
Ok, The log.txt became 10MByte big. So I'll just paste som of the errors that seem to be repeating here:

--------- beginning of /dev/log/system

W/BatteryStatsImpl( 8322): Couldn't get kernel wake lock stats

W/UsageStats( 8322): Error : java.io.IOException: open failed: ENOENT (No such file or directory) reading data from file:/data/system/usagestats/usage-20100101

W/BatteryStats( 8322): Error writing battery statistics

W/BatteryStats( 8322): java.io.FileNotFoundException: /data/system/batterystats.bin.tmp: open failed: ENOENT (No such file or directory)

W/BatteryStats( 8322):	at libcore.io.IoBridge.open(IoBridge.java:460)

W/BatteryStats( 8322):	at java.io.FileOutputStream.<init>(FileOutputStream.java:88)

W/BatteryStats( 8322):	at java.io.FileOutputStream.<init>(FileOutputStream.java:73)

W/BatteryStats( 8322):	at com.android.internal.os.BatteryStatsImpl.commitPendingDataToDisk(BatteryStatsImpl.java:4906)

W/BatteryStats( 8322):	at com.android.internal.os.BatteryStatsImpl$1.run(BatteryStatsImpl.java:4886)

W/BatteryStats( 8322): Caused by: libcore.io.ErrnoException: open failed: ENOENT (No such file or directory)

W/BatteryStats( 8322):	at libcore.io.Posix.open(Native Method)

W/BatteryStats( 8322):	at libcore.io.BlockGuardOs.open(BlockGuardOs.java:110)

W/BatteryStats( 8322):	at libcore.io.IoBridge.open(IoBridge.java:444)

W/BatteryStats( 8322):	... 4 more

I/ANRManager( 8322): prepareStackTraceFile: /data/anr/mtk_traces.txt

W/ANRManager( 8322): Unable to prepare stack trace file: /data/anr/mtk_traces.txt

W/ANRManager( 8322): java.io.IOException: open failed: ENOENT (No such file or directory)

W/ANRManager( 8322):	at java.io.File.createNewFile(File.java:948)

W/ANRManager( 8322):	at com.android.server.am.ANRManager.prepareStackTraceFile(SourceFile:464)

W/ANRManager( 8322):	at com.android.server.am.ANRManager.startANRManager(SourceFile:120)

W/ANRManager( 8322):	at com.android.server.am.ActivityManagerService.main(ActivityManagerService.java:1575)

W/ANRManager( 8322):	at com.android.server.ServerThread.run(SystemServer.java:323)

W/ANRManager( 8322): Caused by: libcore.io.ErrnoException: open failed: ENOENT (No such file or directory)

W/ANRManager( 8322):	at libcore.io.Posix.open(Native Method)

W/ANRManager( 8322):	at libcore.io.BlockGuardOs.open(BlockGuardOs.java:110)

W/ANRManager( 8322):	at java.io.File.createNewFile(File.java:941)

W/ANRManager( 8322):	... 4 more

I/ANRManager( 8322): prepareStackTraceFile: /data/anr/traces.txt

W/ANRManager( 8322): Unable to prepare stack trace file: /data/anr/traces.txt

W/ANRManager( 8322): java.io.IOException: open failed: ENOENT (No such file or directory)

...

I/PackageManager( 8322): No settings file; creating initial state

I/Installer( 8322): connecting...

I/Installer( 8322): disconnecting...

E/Installer( 8322): connection failed

I/Installer( 8322): connecting...

I/Installer( 8322): disconnecting...

E/Installer( 8322): connection failed

I/Installer( 8322): connecting...

....

/PackageParser( 8322): No actions in intent filter at /system/app/Contacts.apk Binary XML file line #539

W/PackageParser( 8322): No actions in intent filter at /system/app/Contacts.apk Binary XML file line #751

W/PackageParser( 8322): No actions in intent filter at /system/app/Contacts.apk Binary XML file line #761

....

D/BootAnimation( 233): [BootAnimation movie 882]1,delay=15

W/Resources(10465): Preloaded drawable resource #0x10804cd (android:drawable/quickcontact_badge_overlay_pressed_light) that varies with configuration!!

W/Resources(10465): Preloaded drawable resource #0x10804c8 (android:drawable/quickcontact_badge_overlay_focused_light) that varies with configuration!!

W/Resources(10465): Preloaded drawable resource #0x10804cb (android:drawable/quickcontact_badge_overlay_normal_light) that varies with configuration!!

W/Resources(10465): Preloaded drawable resource #0x10804cb (android:drawable/quickcontact_badge_overlay_normal_light) that varies with configuration!!

W/Resources(10465): Preloaded drawable resource #0x10804cb (android:drawable/quickcontact_badge_overlay_normal_light) that varies with configuration!!

D/BootAnimation( 233): [BootAnimation checkExit 707]exitnow=0

D/BootAnimation( 233): [BootAnimation movie 844]i=1,r=33040,j=0,lastFrame=578706892038(578706 ms),file=Omate TrueSmart - Video HD 127.png

D/BootAnimation( 233): [BootAnimation movie 847]glBindTexture,i=1,r=33040,j=0,frame.tid=1,name=Omate TrueSmart - Video HD 127.png

D/BootAnimation( 233): [BootAnimation movie 882]2,delay=14

D/dalvikvm(10465): GC_EXPLICIT freed 56K, 22% free 2528K/3220K, paused 2ms+2ms, total 22ms

W/Resources(10465): Preloaded drawable resource #0x10804cd (android:drawable/quickcontact_badge_overlay_pressed_light) that varies with configuration!!

I/Zygote (10465): ...preloaded 270 resources in 1611ms.

D/BootAnimation( 233): [BootAnimation checkExit 707]exitnow=0

...

D/PackageManager(15531): scan package: /system/app/Provision.apk , end at: 2750199ms. elapsed time = 17ms.

D/PackageManager(15531): scan package: /system/app/QuickSearchBox.apk , start at: 2750200ms.

W/asset (15531): AssetManager-->addDefaultAssets CIP path not exsit!

After that it seems to loop those errors infinitely...

Any ideas what is at fault? I used my own backup now that I made the first day I received the watch.

Thank you for being so helpful! :)

Also, I have left alone to "boot" for 30 minutes now without anything happening.

Edit: Log.txt is growing every minute. It's now 85 Mbyte big. Still no booting...