This last week Kobo have released the 1.8 firmware for the original Kobo (ie the NON wi-fi version). This gets installed via the Kobo Desktop application (or, if you like it can be done via an SD card too).
Currently the upgrade is available for (I believe) Canadian branded Kobo's but I don;t think it is for other geographic areas (the Kobo Desktop / eReader have links to stores within their geographic areas).
If you are in Canada and he Kobo Desktop is NOT offering you an updated version of itself, and then in turn of the the eReader firmware, try reinstalling the desktop; this seems to ensure you DO have the current version.
http://download.kobobooks.com/deskto.../kobosetup.exe for the PC version
OR
http://download.kobobooks.com/deskto.../kobosetup.dmg for the Mac version.