There aren't actually any commands in AppGameKit which would let you check for free memory.
Though, I can answer one of your questions,
Quote: "Does AppGameKit exit or display the red cross if gfx cannot be loaded in memory?"
Nope, application crashes with error that there's no free memory left (memory heap).
@EDIT
Just a small counting:
One 32x32 RGBA (.png) image is 4096 bytes.
One MB is 1048576 bytes.
Then, if we have 60MB free, we could store
15360 32x32 RGBA images.
@EDIT2
I think I'm doing something wrong with the counting