Just installed the config tool and from my initial tests all working great.
For those that have not spotted it, the option to Reflash is under menu Tools. I did this and my Mk2 was updated with default settings many of which work fine on my Samsung SyncMaster T240. This monitor seems to prefer either 600 or 1200 vertical lines at 60Hz from the available options.
At last, I can now use this monitor in PAL mode!
Whilst testing, it was very handy having my old television plugged in at the same time. If I picked a mode that did not work, I could reset it by looking at the telly!