Yes. I followed it exactly as specified. I used a machine with windows vista 64. I downloaded and installed the FTDI driver as instructed and then installed Hyperterm. Then, following the instructions, I downloaded the OS and wrote to flash. It did take a couple of seconds before I saw the download proceed. I mean, I sent the file, but got no response for a couple of seconds. Once it was finished, Hyperterm reported that the download was stopped by the connected device. I hit OK and then rebooted the Octopus as instructed in the pdf.
I had not written anything to the memory to lose. I have been just saving sysex files to my computer for my sequences. I also tend to start things from scratch and then leave the Octopus powered up for a long time.