The unfortunate issue with LiteOn right now is they keep adding new models, and the newer firmwares are getting a bit trickier to hack. Some of them are even anti-downgrade, which is not any good.
The most up to date information on these machines can be found online at one of these places:
1)
http://liteonusers.org.uk
Although mostly PAL, the info and technique is good here too. Be sure anything you download is NTSC, not PAL. I assume you are in the USA.
2)
http://www.techolio.com/forums/phpBB2/viewforum.php?f=7
Know that ILO is merely the Walmart version of a LiteOn. Both ILO and LiteOn are discussed here.
3)
http://www.ss3f.com/ilo
This is the site of GUITARMAN, another person that maintains LiteON/ILO information on hacks and other tips for the units.
4) and finally,
http://ilohacker.tripod.com/
This is the homepage of MR WIZARD, the most recent firmware hacker to the LiteOn/ILO community. He has written a program that will hack LiteOn softwares.
Sorry for the slight delay, I was unavailable for a short time. But I'm back now.