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#11
This tutorial does mention the FAT32 requirement:
Installing Windows 7 in native EFI mode from USB - bit-tech.net Forums
"That's it! No need to write boot sectors or anything like that - as long as you have a FAT32 filesystem with a \efi\boot\bootx64.efi file, the computer should pick that up and start booting."
However, I'm not sure what the fs:0 step is that you're talking about.