NOTE: If your Faderport was purchased new in late 2012 or later, it is very likely that your Faderport already has the latest 1.3.8 firmware installed, and so there may be no need to update your firmware. If you have a 2012 or later Faderport, you should only need to update to 1.3.8 if you've run the older 1.3.5 or 1.2 updater, or you've been instructed by Tech Support to do so.
To perform a firmware update to the Faderport, it must be connected to a USB 2.0 port on a Mac or PC that has no USB 3.0 controllers OR physical 3.0 ports on the system whatsoever. No other MIDI related devices (interfaces with MIDI or even control surfaces) should be connected when performing the firmware update (as seen in Audio MIDI setup on a Mac, or in your Device Manager on Windows).
NOTE: Depending on the firmware version currently installed, and the computer being used to do the update, the lights may not flash as describe in the firmware updater instructions. It is okay to disregard this and proceed with the firmware update. The Faderport should update successfully regardless of what is seen on the Faderport itself.
http://support.presonus.com/entries/63364184-Why-can-t-I-update-firmware-on-a-Faderport-correctly-