Bump!
Update: I moved my MAME ROMs to the SD instead and loaded from there, same issue. So this has nothing to do with loading ROMs from USB. It just seem the USB sound card / audio adapter interfere with mame4all somehow.
So, when I try to launch a MAME ROM with USB sound card connected, I just get thrown back to emulationstation menu(No error messages, no missing file message etc)
When I launch a MAME ROM with the USB sound card disconnected, it load perfectly without issues.
Any help would be much appreciated!