Try to do what I did with my TV Box recognized as c03ref in the same situation:
I also applied the last upgrade with the same sad result. All attempts to continue the 2nd pass from SD Card appeared to be useless. Just green light and no changes in more than 1 hour. Then I assumed that the SD issue might not been fixed for my model and the 2-nd pass now cannot find files for upgrade. I checked the card and found that the files from there had been deleted. I wrote them again, but it did not help. The box remained in coma. Then I inserted the SD Card with firmware upgrade to USB Card Reader, connected the reader via USB and restarted the device. It took around 15 minutes after restart and I saw the "android" sign which later on was followed by system start and setup.
Try to do the same and write back here if it will also help you in order to inform the others who might also have had some issues with the upgrade.
My device initially had pre-installed Android 2.3 system and it was slow and always failed to read properly some video formats and all *.iso files. It also failed to accept installation opf most of software.
Now it is fliying like a jet fighter, it is reading everything, it is accepting installation of any software, but it does not want to see SD Card and the remote control is working only for switching on and off. The rest of buttons are not working, but I am using a wireless mouse and a USB Hard Drive and I am happy with the results of the upgrade.
Dear Stane, thanks a lot for your great firmware! I bought this box in order to use it as a media player and it is working perfectly for that task now reading even *.iso files and decoding very fast any videos. Nevertheless I`ll be even more grateful if you will give a hint how to initiate back the SD card and the remote in its full functionality. Maybe, I will have to download 2.3 firmware and to install some drivers from there? If it is not possible, just forget it. I will never neither downgrade for 2.3 nor install the official Android 4 firmware because yours is a masterpiece - fast and friendly except some minor (for me) bugs.