I am in the same boat as this guy. Technically though I believe that is volume down (with power button on top left it's the left volume button, not right). If I do volume up (the right button in this orientation) it just reboots normal and tries to load.
I left it sit at the "downloading do not turn target off" for about 10 minutes and still nothing. Anyone know what we are missing?
---------- Post added at 01:14 PM ---------- Previous post was at 01:05 PM ----------
Update: You have to tap the power button and volume up, not hold it. Took me 3-4 clicks but eventually I timed it just right. Must tap both at the exact same time and it'll bring up a blue/black menu. Hope this helps!