Since I don't know how familiar you are with Motorola devices I'll have to ask if you've done the cold boot correctly. Sorry...
This device's cold boot is done by holding down the "2" key and the scanner trigger for 10 seconds, if less, it'll be a warm boot.
If you've done this correctly and got no good I'd ask if you've scanned the "Set Default" barcode that comes in the Quick Start Guide along with the scanner.
Try scanning it. If needed scan "Unpairing" barcode before the "Set Default"*, both under "Miscellaneous". If still no good, try scanning the "Cradle Host" under "Radio Communications Host Types" and "ActiveSync Host" under "USB Host".
I should've asked this on a comment, but I can't comment yet, so... Have you tryed on a different OS, like WinXP?
If none of this works, call Motorola Solutions (now Zebra Technologies) and ask for a Clean Boot image or the shipped O.S. image...
Yet, if no lucky, ship it back for repairing... sorry...