Hmm ...
are u sure for 100% the second method will not work on 7390 ?
vs.
The second option could really work, but it's more eligible for newer FRITZ!Box models and your 7390 is a rather old one.
Do you see the contradiction?
Surely it works to create the symlink for "/usr/sbin/telnetd" and rely on the existing start mechanisms, as described by me above.
But the whole description, you've linked to in #7, uses a different method to unpack the firmware and to pack it later again. The only part, which is usable from the linked thread, is the "ln -s" command to create the symlink in the unpacked filesystem structure.
The description for 7560/7580/7590 may be used to concatenate the kernel and filesystem image, too (wow, the 2nd common step) ... but there's another call needed to pack the firmware as SquashFS image, with other options and another "mksquashfs" binary, which provides "lzma" compression for SquashFS version 3 with "big endian" scheme for data storage is needed, too - and your only method to install the created image is still to flash it via EVA and this works completely different on a 7390, as I wrote above already.
Furthermore you have to split the "kernel.image" file into the real kernel image and the SquashFS image yourself - also a task, where you should know anything about the different structures of such a "combined image", even if the SquashFS tools from the Freetz toolchain may unpack a filesystem image with a NMI vector area without any further problems (but do not try this with tools from another source, without the proper patches to their source codes). You'll need the "plain kernel" later to create a "combined image" again ... pay attention to the correct padding of the kernel, 'cause the filesystem image has to start at a 256-byte boundary in the flash memory.