Did you update using the "pin method" described in the Update thread?
Did you select the correct file to download from Android 5 to 7?
http://www.futeko.com/newforum/index.php?topic=2097.0
Is your USB flash formatted with FAT32 as is required? (Some have reported file issues with drives > 32Gb).
Did you only have the file called "update.zip" on the USB flash drive to perform the update?
If yes to all of the above, try again....
I have updated first from within the User interface with the Android L to N update file.
But not the above one. It was a german CFW.
I used a Fat32 formatted 4 GB USB-Stick with only the update.zip in root directory.
I have also tried to downgrade to FW 1.1.0 and below (1.0.7) with the Pin method, but i don't see more than th e Himedia Logo. :-((