Current Firmware?

see if this help, it is a bit old but it might still apply. As stated, you might need to do a couple of versions before the final one.

I would check with tech support, unless someone here knows for sure.

Also, make sure you have backups in case of disaster.

http://community.wd.com/t5/My-Book-Live/quot-Your-Firmware-is-up-to-Date-quot-using-MyBookLive-version/m-p/522729/highlight/true#M17057