If you are running windows on your computer, you'll need:
http://www.empeg.com/downloads/car-emplode-v2.00-beta13.zip
instead of #1. Uninstall any existing version of emplode and install this BEFORE attemping to upgrade the player. The difference between the consumer (#2) and the developer (#3) image is that the developer image gives you more freedom to "customize" or develop software for your player later. The logo editor (#4) contains a kernel flash utility that will allow you to load the Hijack Kernel (#5 look here for what it is and a list of features)

Before you start, you should check out the FAQ at riocar.org. This is one of the clearest and best-maintained FAQ's that I've ever seen (thanks to Tony.) Specifically, this entry and these entries.

You need to make sure your serial ports are installed and working properly. Check to make sure they are enabled in the bios. Check another device such as a serial mouse. I don't think there are any special port settings, but perhaps someone else here can tell you for sure.