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You wont lose any recordings you've made - the firmware doesn't do anything to those (apart from make them much more accessible ). I'm not 100% sure about the scheduled recordings but I don't think so. I have done a number of updates to this customised firmware including re-updating it following an official OTA (over the air) update and I've never had to go back and re-do any scheduled recordings. Having said that (in other words just in case I'm wrong!!) I'd say if you're really worried then make a note of the schedule list (from memory the yellow button when viewing the EPG) or take photos of it on screen if you want to know what to go back and re-enter but I don't think you'll need it.