I finally got around to upgrading to v1.2 ("monomake version" reports "monomake version 1.2.1").
Unfortunately, it looks like there are still some basic bugs.
I created the usual "hello world" project using "monomake project hello", then cd into "hello", followed by "make" and "make install". This all works fine and I see "Hi, I'm Mono!"
I then unplug the USB cable and power down mono using the button on the side. 10-20 seconds later, mono powers back up again and shows "Hi, I'm Mono!" Pushing the button powers down mono again, and 10-20 seconds later it powers back up.
Plugging the USB cable back in seems to stop this cycle.
Any idea what's going on? Is this a known issue and already resolved?