The latest version is 4.1.2 and I would not recommend 4.1.1. Install 4.1.2 and repeat.
The problem you describe looks like a firmware update gone bad. First thing to try is to remove power from the OIP, wait 10 seconds, and install power to see if that fixes the problem. If not, you may have to use the IP Tool in DHCP mode. This allows the OIP to reboot and "find" the IP Tool and boot firmware from it.
Basically, to do that, you start up IP Tool. You can try "Search" but it would not find anything. So then you remove power from the OIP (against), press the DHCP button in IP tool, and then insert power and be patient. Eventually the new firmware should be (re)flashed on the OIP.
When I had this problem and tried it, it would initially not work. I suspect it was because I have a DHCP server on my homework and it was interfering with IP Tool. To avoid that I connected my laptop directly to the IOP and manually set a network address on my laptop (static address). This way I was able to refresh and get my OIP back.