Not sure what the chip upgrade is, nothing with that description on the vu-hd site.
Here is what I did so far.
Upgrade to V3 then to V4: Not sure if the upgrades were successful despite executable window stating download complete.
Flash OpenVIX 147 V4 safe image: Sticks on splash screen (waterfall) with spinning vix logo when internet is connected. Fully loads without internet, but won't scan for channels despite tuners being configured and full signal strength.
Flash OpenATV 4.2 V4 safe image: Sticks on splash screen (wings logo) with or without internet.
Flash Blackhole 2.1.4 V4 safe image: This one actually loaded with internet connected, but box locks up when doing channel search.
Flash Blackhole 2.1.1 image: The box came with this, but I guess upgrading to V4 means it will no longer work, because, well, it no longer works.
I had VTI 7.0 working for the past couple weeks, so can rule out there being an issue with the dish or cables or connectors. All images show full signal strength anyway, they just refuse to scan channels getting to about 10% before the box freezes and no longer responds to remote input.
Called it a day after 6 hours fighting with it so the good old Freesat box has been returned to active duty.