You can update your player and get the radio back as well as remove the volume restriction BUT you can be voiding your warranty, so this means, if something happens with your player and you turn it back with the Meizu Firmware or one of the mods posted in here... you're screwed, Dane-Elec won't fix it, nor replace it.
Well I understand this point of view but I don't think that could be so easy. Here is food for thought :
When you buy a meizu miniplayer on the internet, do you receive a "Legal Information & Notices" document that prevents you from updating your firmware from an other official source (meizu.com) ?
When you buy a meizu miniplayer on the internet, are you supposed to go to Dane-Elec website and read their so called "warranty procedures" since Dane-Elec is not your direct supplier ?
Moreover, if you look carefully to your not-updated Dane-Elec meizu miniplayer , you could read this particulare comment in the "important tips" section : "Please access
www.meizu.com to upgrade the player with the latest software"