Got it. Turn off Fast Boot (thanks i900FrenchAddict). Close out of FPSE then reopen FPSE (gotta close out and reopen for setting to apply). Then:
1. Select FPse (i.e. open FPSE, which you may have already done)
2. Select a game and wait for it to start (wait for it to get to it's main start screen, if you go too soon you may get license error)
3. Press Menu and select eject
4. Press Back when prompted for iso to load, to get back to game
5. Press Menu again and select Quit, then restart (this simulates resetting the PS1 with no game in it, it will boot to BIOS).
This is taken from (and modified) the xda post:
http://forum.xda-developers.com/showthr ... st28571131