Thanks for the reply!
I have tried preparing the stick as stated in the instructions posted on the link.
Sadly, at least the without disassembly version, did not work. I am not seeing the Himedia logo at startup nor anything else. The box just starts, while I have the restore button pressed, and then after around 3 seconds goes back into standby. Nothing is shown on the screen nor on the box little screen at all.
I have tried both firmware as suggested with the same result. The box ignores everything and goes back to standby. Like its looking at me and then saying... neah.. not that guy again... im outta here

I have read that shorting the pins would lead to warranty being invalidated, so I would rather not choose to do that. That being said, I guess the only way is to send it to my reseller for RMA.