Try this:
Go to:
http://dustyfeet.com/edge/
Choose the first one - the one by Mark Rehorst. Download it and save to your download folder.
Once the download is complete navigate to the download folder and find the file.
Right click on it and choose 'Rename'.
Type update.zip.
Right click on it again (once it's renamed) and choose 'Send to' from the drop-down menu.
Send it to your USB drive.
Eject your USB drive properly and insert into your eDGe (which is completely powered off) and then perform the rest of the steps. Don't hold the two buttons down forever. Count to 10 slowly (1-Mississippi, etc.) and then release. It will start updating almost immediately.