I just hopped on the forum looking for help with this exact same problem. I get the same message, word for word. I tried on 2 Windows 7 machines and 1 XP machine. The library application works fine on the XP machine, so I know the pedals and the machine can communicate. But the update utility is not working at all. Tried uninstalling/reinstalling several times too.
I was getting excited reading about the new software updates, backed up my old presets with the library, but now it's frustrating that I can't get the update to the stompboxes (modfactor and pitchfactor).
