Yes, it is in the directions that come with the update file:

============ MODX6/MODX7/MODX8 V2.00 Operating System Updater Readme ============

Thank you for purchasing the Yamaha MODX Series, Music Synthesizer.

This Readme file contains important information about the MODX6/MODX7/MODX8 V2.00 Operating System update and the updating process.
Please read this document carefully before updating your MODX synthesizer.

NOTICE:
- This updater is only for the MODX synthesizer.
- This updater is to be used at the user's own risk.
- All User memory (Library data, User data, User sample and so on) will be initialized by this updater. Please make sure that you have saved all User data to a USB flash drive before performing this update.
- The unit may become inoperable if the electrical supply is interrupted while running the updater (by disconnecting the AC cord, etc.). If this happens, run the updater again from the first step.
- If the unit does not function after running the updater, please contact your nearest Yamaha service center.

Make a Backup File

Press [UTILITY]
Touch “Contents” > “Store/Save” > set the “Content Type” = Backup File

This will make a .X8A file which when loaded back in after the update will restore all your data.
Keep a copy of that .X8A file in a safe place on your computer and on a spare drive.

Why not make a back-up anyway? 🙂

When I see a back-up file, I don't just see data alone. I see all of the time that I invested in personalizing my instrument.

Value your data. Value your time. Make a back-up!

All the best -- pj

http://sandsoftwaresound.net/update-about-the-updates/

+1 Paul!

There are only two kinds of technology users, those who backup their data and those who eventually have a catastrophe!

Hello,

Downloaded the update file. Copied to a FAT32 format USB. Followed the directions in the Read me file.

"3. Connect the USB flash drive prepared in step 1 to the [USB TO DEVICE] terminal of the MODX. Power on the MODX while holding down the [Cursor UP] and [UTILITY] buttons until the "YAMAHA" logo appears on screen.
At this time, please do not press buttons other than [Cursor UP] or [UTILITY] buttons."

Tried this several times. Would not boot into update page. Then tried cursor left and cursor right buttons. Same thing, boots up normally, no update option.

Am I missing something? I've done many updates before, this one ignores me.

Any help would be appreciated. I imagine there might be other MODX owners stuck on this update. Thank you

Make sure the update file (*.PGM) is in the root directory of the flash drive (not in a sub-directory).

Try a different USB stick.

It's not going to work pushing any other buttons other than what's documented.

https://www.yamahasynth.com/ask-a-question/help-os-update-procedure-failed

Most issues boil down to either the wrong kind of USB stick or incorrect preparation of the stick.

The last step of the instructions that come with the updater says:

"Execute the Initialize All function ([UTILITY] > [Settings] > [System])."

On that screen, there are two possibilities that use those words, there's "Initialize All Settings" and "Initialize All Data" - which am I supposed to choose?

Initialize All Settings
Initializes all system settings you created on the Utility display.

Initialize All Data
Initializes all User data in the User memory and all system settings you created on the Utility display.

Out of the two - "Initialize All Data" is closer to "Initialize All" (meaning initialize everything) because it initializes more things. Settings only initializes the utility settings. Data initializes both utility settings and user memory.

Ah, thanks. Yeah, I hadn't looked up the functions in the manual to see that "Initialize Data" also included "Initializing Settings" and so would be the "closer match" of the two. Yamaha docs are always a bit of a treasure hunt! 😉

To be clear:
Initialize All Data — initializes all non-factory data (both the User Bank and all installed Library Banks) in addition to all System Settings.