This procedure can be done easily using the MODALapp on version 2.7.0 or later.
Connect the COBALT8 to your computer using a USB cable.
Open the MODALapp and hold the 'M' logo in the top left.
Go to Tools>Reflash>COBALT8
Power off the COBALT8 and hold the shift and init buttons while powering on.
Hold the page param dial on the hardware until the bar fills up.
Various screens will now inform you of the progress of the reflash.
DO NOT POWER OFF DURING THIS PROCESS
Once completed you will see the following message and the reflash is complete.