Using the LCD card is the easiest method granted... you need one like this...
http://www.hpiracing.co.uk/piw.php?partNo=101280
Available from all good model shops
However, I will say that programming via the red button is very easy, I did this last night on a friends new V2.1.
Its all there in the instruction booklet, just spend a bit of time reading it and understanding it.. its quite straight forward once you know how
You definatley need to hold the button down BEFORE switching it on