Updating firmware questions

I recently bought a WD Live TV media player at costco in Nova Scotia.  I had a hard time setting it up cause it kept refusing my DNS address. 

So I subscribed to unotelly and put the USA DNS in and it started right up and works fine.  But its on firmware 1.05, and I see there is a firmware 1.09

If I upgrade the firmware is that going to cause me to lose the US channels that I want to keep?  Netflix USA, Pandora, etc.

Yup 

the geolocation will only show services available in your area

do not update unless there are problems with the unit

If you subscribe to Unotelly go to the Unotelly website, login and follow the instructions for setting up UnoDNS Dynamo.
If you use the Dynamo DNS you can choose what geolocation you want your player set as, regardless of where you are in the world. You can then update your fimware to the latest release.