For all the newbies, Monoppix is a live Linux distro, based on KNOPPIX means you can run Linux with Mono (Opensource implementation of the CLI) without installing anything on your harddrive. But still wondering how to start MonoDevelop??? MonoDevelop is the Integrated Development Environment for Mono based on SharpDevelop. To start MonoDevelop you need to do the following:

Goto Start Applications, Quick Broweser, Root Directory, KNOPPIX, usr, bin and choose /KNOPPIX/usr/bin and select "Open In Terminal". In the console write "monodevelop" without quotes to start the IDE.

I really like the IDE, still exploring it, but according to me its my Mono VS :). However I am still unable to compile and run applications, but will give it another try sometime later.