Information from dimichxp @ motofan.ru!

Q: What is managing the CPU frequency on E2?
A: That is the daemon called AMPD trough ipm functions of the kernel in linux-2.4.17/arch/arm/mach-ezx/dvfs.c

Q: Can I change the CPU frequency?
A: Yes. In the standart there are three default levels - 104 Mhz, 208 Mhz and 312 Mhz. Increasing the voltage will provide more Mhz

Q: How can I do it?
A: The start of the array of structure ipm_config is on 0x46a8. You can modify yourself or use the preconfigured ampd below

Q: I changed the file. Now how do I apply the change on the phone?
A: The file is read-only and you cannot directly replace it. The first variant is to modify it within the code groups and flash your phone. However there is much faster and easier variant - to apply the change each time the system boots (that way it is very easy to reverse back). First copy the new ampd file in /ezxlocal. After that edit your startup file (/ezxlocal/startup_test.txt in TheOneb2) and add the following lines:
             #!/bin/bash
             mount --bind /ezxlocal/apmd /usr/bin/apmd

Q: How do I check if it is properly applied?
A: Check out BogoMIPS in /proc/cpuinfo

Note: You must use modified kernel in order to use AMPD. For example this one: http://www.e2mod.com/content/view/220/26/