11) ACTUAL MAGIC:
After LG UPDATE TOOL starts, wait for following message in RED SENTENCE.
When you see this message and update meter reaches to 8%, then
quickly open this folder "C:\ProgramData\LGMOBILEAX\Phone"
and look for extracted bin files, if you see the same name as BIN file you downloded (LGP765_AP.bin or LGP765_AP.bin), replace it with the one you downloaded earlier (which is already HEX-EDITED).
Press "Continue" if windows asks you for permission to copy and replace.
Folder not found? Workaround: Copy this "C:\ProgramData\LGMOBILEAX\Phone" and paste in windows explorer at top, the folder should open directly, then replace file. In one of the rarest case, in WIN XP machine the folder was found here "C:\Documents and Settings\All Users\Application Data\LGMOBILEAX\Phone" in this post.
Still problems? Check this post too.
I am using win8.1 and all the drivers have been correctly installed. I'm sure this is a post june 2013 one.