(The original instruction were found HERE, I modified them to work with most U3 drives)

1. Download the Memorex LaunchPad Updater
2. Download Universal Extractor or WinAce
3. Extract U3_Launchpad_Updater_1_0_0_2.exe to a folder
    (Use Universal Extractor or WinAce)
4. Download Resource Hacker  
5. Open UpdaterCore.exe from the folder you extracted the LaunchPad Updater to with Resource Hacker.
6. Expand "String Table". Expand "132". Click "1033". You should see

STRINGTABLE
LANGUAGE LANG_ENGLISH, SUBLANG_ENGLISH_US
{
2096, "Skip"
2097, "Skip All"
2098, "Retry"
2099, "Abort"
2100, "Wrong password"
2101, "%d attempt(s) before device is permanently locked"
2102, "Failed to set password. To try again, please remove your %2 and reinsert it."
2103, "%1 failed to format your %2"
2104, "Backing up your data..."
2105, "Updating the %2 firmware..."
2106, "Restoring your data ..."
2107, "Formatting your %2..."
2108, "Updating your version of the U3 Launchpad..."
2109, "1.0.5.17\n"
2110, "bin\\Launchpad.iso"
2111, "\\\\Launchpad.zip"
}

Change 2109, "1.0.5.17\n" to 2109, "9.9.9.9\n"
Click the Compile Script button

This just allowed you to update the drive over and over. Because in the LaunchPad.zip file the firmware version is 1.0.5.16 or 1.0.5.17 this fools the updater in to thinking the firmware isnt updated

7. Expand "133", Click "1033", you should see
2123, "Memorex Inc."
2124, "Memorex Inc."
2125, "Memorex"

Change the highlighted values to "*"
Click the Compile Script button

8. Expand "BIN", Expand "709", Click on "0", you should see
<vendorId value="2284"/>
<vendorName value="Memorex"/>
<productName value="Mini TravelDrive"/>
<productId value="22"/>

Change the highlighted values to "*"
Click the Compile Script button

Click File and Save

Change the LaunchPad.iso file in the bin subdirectory to one of your own.
Or you can use mine with the Auto Launcher (download just the iso file)

Run CoreUpdater.exe to install it to your U3 Drive.

***Again do this at your own risk, I will not be responsible if you fry your drive***