Quoted from applejuice:
Notes for updating pinbox systems (I will update these notes and add to my site as time allows. Please read carefully)
On a computer of your choice extract the files within the update exe (This is a basic zip file)
There are 6 files:
Copy the files to a spare usb drive
On your rfm pinbox computer, Navigate to folder /root/pinbox/update/rfm_15/ (either by logging into lxdm, or from command line, or using ssh/sftp etc)
Delete or move ALL the existing files within this folder
Copy the new files to this folder. Only the files, no additional folders.
Make sure the update.bin file from the original installation of pinbox is deleted/moved. This will be recreated from the new update files
Move/delete rfm_15.nvram* files from /root/pinbox/roms/savedata/ These files store the settings and high score data but may stop the update if not deleted/moved first.
Reboot the rfm computer
Enjoy v2.0 game code on pinbox
Same process also worked on Nucore.