Go to the settings column on the XMB menu and go all the way to the bottom to "Debug Settings" and make sure all the following setting are selected.
Release Check Mode > Development Mode
Boot Mode > System Software Mode
Network Settings for Debug > Single Setting
Make sure your PS3 is wired to the router via an ethernet cable or use Sharkbait's tutorial listed below to set it up wirelessly! This is very important or it won't show up in the target manager!
After all that has been checked, put your Debug EBOOT.BIN in the appropriate directory.
(Example: MW3 US Update v1.23= dev_hdd0 > game > BLUS30838 > USRDIR > EBOOT.BIN)
Now reboot your PS3 and you're all set on that end.
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