I did say how finding out how a tool works (or fails to) is tricky, didn't I?
Be aware that one of the setting pages of that tool may attempt to flash also a (possibly "wrong") firmware.
The first thing you should run is the GETINFO tool and make a screenshot or however jolt down what it finds.
Then you should check the MP.INI (or more generally all the .INI that you can find and see what settings are in them.
Then you should experiment with settings, saving them into new .ini's to get the hang of them (sometimes the contents of the.ini file are "more clear" than the actual GUI text).
At first sight the file version Phison MPALL v3.71.0A_03 MLC(UP03 64pin):
seems like "more suitable", but cannot say.
Try - before a new attempt - if by any chance this other tool works Phison ModeConverter:
Check also the "UP tool" http://www.usbdev.ru/?wpfb_dl=4627 it seems like more "simplified/automatic", but of course you never know for sure.
You could also check if - by any chance - your specific model is compatible with these tools here (at least to identify/save current firmware):