Make sure there is no disc in the drive, then run the update executable file and follow the prompts.  Some drive models are very similar so if the update is not able to "find a target drive" please be sure to check that the update you have is the correct one for your drive model.  


What the update does:

Updates the BDR-205 Firmware to version 1.11.

Changes included in version 1.11

Improvement to BD-R Writing
Improvement of PureRead
Improvement of BD-RE Writing
Improvement of DVD-R Writing

Supports New BD-R SL Media:
4x Prodisc
6x Panasonic, Infomedia

Supports New BD-R DL Media:
6x Panasonic, Ritek, CMC

Supports New LTH Media:
6x BD-R LTH Umedisc, Ritek, That's, Maxell, JVC 

Improvements to writing speed:
DVD+R SL (Prodisc "PRODISC_R04") - Write speed changed from 12x ZCLV to 16x PCAV.