I strongly recommend that you update your HD500 to the latest versions of everything, and then perform the post-installation procedures. It's not that hard - just follow the procedures below. You will benefit from the new features (and amps) in later firmware releases, and your editor software will be compatible with your Pod software.
Since you are new to it, and you dont have any old presets to save, ít will be much easier to do this than to try to work with old and incompatible software.
Here are the detailed procedures:
... make sure to do the golabl reset and pedal calibration..