How to update the firmware
Do as Guitardojo says:
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Detailed explanation of how to update the firmware using the EMU XMIDI 1X1 as an example:
Get a decent USB2Midi converter like an EMU XMIDI 1X1
Connect the Xmidi 1x1 to your computer using the attached USB connector. If you use a hub, it must be powered. When properly connected, the Xmidi 1x1 Power LED illuminates when your computer is on and awake. Windows users MUST install the Xmidi 1x1 drivers from the included CD.
Windows XP Drivers To install your E-MU Xmidi 1x1 interface on Windows XP: Connect the Xmidi 1x1 to your computer using the USB connector. Insert the CD labelled “Software/ManualInstallation.” When the “Welcome to E-MU Software Setup” dialog box appears, follow the onscreen instructions. If you encounter the “Windows Logo-Testing” warning screen, click Continue Anyway. When prompted, restart your computer. Your Xmidi 1x1 is now ready to use.
Attach cables to the Axe Midi-Out of the USB2Midi converter goes to Midi-In of the Axe (backpanel) Midi-In of the USB2Midi converter goes to Midi-Out of the Axe.(backpanel)
Check the Midi channel of the Axe Turn the Axe on Press I/O With the PAGE buttons go to MIDI and check the first line. By default it is 1. If it is not 1, turn the big wheel you are changing presets with until it is 1
Download the Axe Editor (Thx Lars!) Install editor Start editor On the top of the screen select "Options" and Select Editor Midi Channel from the drop down list Select 1 from the dropdown list Press Ok
On the top of the screen select "Options" and Select Midi Devices from the drop down list Select the appropriate Midi-In from the drop down list under Input Device. In case of the E-MU it is E-MU XMidi1x1 Midi In Select the appropriate Midi-out from the drop down list under Output Device. In case of the E-MU it is E-MU XMidi1x1 Midi Out Press Select
If the Axe is turned on you should be able to download and upload Banks from the File Menu and all the bells and whistles
And finally for the Firmware upgrade:
Download latest firmware from http://fractalaudio.com/Documents/ Unzip files into a directory(I hope it is not a challenge) In the Axe editor, on the top of the screen select "File" and Select Upload Firmware from the drop down list. Navigate to your directory the files unzipped look for something like "axefx5_0", select it Press Open. You will get a warning screen with instructions
Press the Utility button on the Axe Using the PAGE buttons go to the right until the last label "Firmware" Press Enter Press OK on the Editor Firmware update starts
If at the end Axe states "Bad checksum" it failed and ask for help. If the normal screens comes back, power off the AXE and on.
Press the Utility button on the Axe Using the PAGE buttons go to the right until the last label "Firmware" You will see the software revision on the screen.