The Ho,
We are all her to try to help each other. Let's try to get your issue resolved as quickly as we can:
1. How long have you had your player?
2. Did you buy it directly from UXcell? If so, what is the order number?
3. Do you remember what had changed or anything was done to it before the problems started happening?
4. Can you player be detected by Windows when plugged into the USB port?
To answer your question in your original post, yes, it does say it's firmware upgradable. Majority of the MPx players do. However, it doesn't necessary mean that they will relase a new firmware for the player all the time (or at all). Looking at your problem, a firmware update won't help solve the problem. It seems either there is a problem with the internal memory chip or possiblity static within the player that's causing the hourglass problem.
If you can answer my questions above, I'll see what I can do.