Hi,
I get this too, try booting the TimeFactor into UPDADE mode by pressing the middle footswitch whilst powering on and then run the "Eventide Updater" that should work.
Another "Eventide Updater" bug in Snow Leopard is that it will not remember your password if you store it so you need to retype your password even though it looks like it is stored.
Cheers
BMF
