I had some problems with this but was able to figure it out. For the record I am running Windows XP SP3.
After downloading the new Firmware Device Manager, it was unable to recognize the device.
Now I noticed that the new device manager is actually a different program than the old manager (SMH10 Manager vs SenaBluetoothDeviceManager ). In order for the new software to recognize the device you need to
1) Ensure no other bluetooth devices show up in the (Windows) Device Manager, except for the Bluetooth Bus Enumerator
2) Plug the Sena device into the USB cable and power it up while looking at the USB section of the Device Manager. Take note of which device shows up.
3) For the new device, right click and do an "Update Driver". Browse for the c:\program files\sena technologies\senabluetoothdevicemanager directory. It should find a driver in there then proceed to load the driver
4) Fire up the SenaBluetoothDeviceManager. It should now recognize the device. Also you should see in the Windows Device Manager that what formerly showed as a USB Device now appears as SMH10
5) You should be able to proceed with the firmware upgrade. You need to manually download the new firmware as it is beta sw and the new SenaBluetoothDeviceManager software will only try to download the prior production release (4.1.1)
But if you are running Windows 7 or later but having a similar issue with the new bluetooth device manager not recognizing the device, i would imagine that a similar principle would be in effect.