View source for Flashing the Firmware

Format a USB thumb drive to FAT32.

Put on it's root level at least the following WDTXLive files:
* wdtvlive.bin
* wdtvlive.ver

In case you need to downgrade to an earlier version than the one currently installed,
edit the wdtvlive.ver file to force a virtually higher version

Example: 
You have 1.01.17.
Edit the beginning of the line
VERSION='1.01.xx ...'
to at least 
VERSION='1.01.18'

If you upgrade to a version later than 1.01.18, i.e. 1.01.24 upwards
include also the wdtvlive.fff file at the root level.

For further customization add to it also the following files:
* net.mounts
* S00custom-options
* smb.conf (if available)
If you already have a WDLXTV version on the WDTVLive and made your own customizations with them, these files might override your previous customizations, so make sure you update them accordingly.

Plug the USB thumb drive into the WDTVLive,
reboot the WDTVLive and follow the UI instructions.

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[http://forum.wdlxtv.com/viewtopic.php?f=3&t=491 WDLXTV LIVE Firmware Flashing]