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Update: Out of desperation, I unplugged my Nest Guard, and waited about
12 hours for the battery to completely die. When I plugged it back in,
the update finished quickly and my Nest Guard is now functioning
properly.
I am having the same exact issue. My Nest Guard started doing this last
night, and has been saying, "Finishing up. This might take a minute."
Every few minutes for the past 20 hours. I have also tried the same
things as you with no luck. Hopefully so...