In post #1 you state "Booted into Libreelec 11.0.3 from the card."
In reality the box booted vendor u-boot from eMMC (as S905 silicon is hard-coded to look for boot firmware on eMMC first and it existed via the factory image, so it did boot it) but then LE11 was found and loaded from the SD card, thus proving that the SD card slot works, and much like the Hub .. you just need to feed it the right software.
If you have written the LE11 board image to eMMC it will now be booting upstream u-boot (not vendor) which uses different boot files/config but the boot flow remains the same; silicon checks eMMC first and if it finds boot firmware it runs it regardless of what's on the SD card. If you want to force the box to boot from SD card the only way is either a) erasing eMMC (or the first few MB) so that u-boot is not discoverable on eMMC, or b) using a special HDMI dongle (as mentioned in the other thread). Assuming A which is easier: If silicon (BL1 in the boot chain) cannot find boot firmware (BL2) on eMMC *then* it will check for a correctly structured SD card for boot firmware. Correctly structured means magic headers at specific disk sectors, the BL1 bootrom has no ability to look for files in partitions/filesystems.
At this stage if you put the "board" image on an SD card, the box will boot u-boot from eMMC, which will then find the LE boot files on SD and boot them (upstream u-boot has logic to check SD and USB for boot files first). If you put the "box" image on SD the same might happen too. In either case, eMMC is not "active" after the initial u-boot step and can be safely overwritten from userspace using emmctool and you choice of software: either the "backup-wp2.img.gz" file (to restore the factory image) or perhaps the LE11 image again. It is unusual that the /storage partition resize failed .. but it's not the end of the world. You can fix this at any time by running "touch /storage/.please_resize_me && reboot" .. and on reboot the partition will be erased and recreated using 100% of the remaining space on disk.
NB: Upstream u-boot doesn't map the power button or reset button to have any boot-level functions, but that's not particularly important if you understand the (different from vendor u-boot) boot flow.