Update:
I unpacked the FW file with my tool (linked somewhere in this thread).
The contents have changed a little, as there is no passwd folder anymore. Some files are the same (see CRC).
My guess is that this FW update is a "small" update, mainly exchanging the ecomb executable, which would explain why you need to install P08.01 before installing P08.02. Telnet probably works as before, with same root login and known password.
However, I did not try the update, yet, so the risk is on you.
Regards,
Vitor