No, because you won't be using the server, so login is useless. Monkey would simply be the conduit.
Go to Downloads page on the Line 6 site, get Firmware, save to your computer.
Open Monkey,... select what you want to install or update. Lower right in the window it will say "update from file",
click on it, then open the file from your computer (not the Line 6 server) for what you downloaded earlier.
It has to be the file for what you selected. If you selected Flash, then DON'T try to load USB driver, that won't work.
It would have to be the corresponding file for the update selection.