I don't do non-music stuff on here, but I'll make an exception so that someone may stumble upon this via old father Google in their time of need.
If your O2 Wireless Box is showing a flashing orange power light and a flashing green LAN light, you may NOT need a new box. Connect the box to your PC via a LAN cable. Get the O2 CD, go into Software, O2, Utilities, and run the file that starts RT-585... etc...
Pro-tip! If you're running Windows 7 64 Bit, it will have some kind of fit and claim you're not running a good enough OS. Right click it, select Windows XP SP3 compatibility mode. Run it again.
Fingers crossed, it should be fixed.