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Yes,you can update bootcode without TTL cable,
but before update the PBO bootcode to 26,
you have to mod this line (package_MP.tar-->project_config.h)

#define system_parameters_4...

PAL Bootcode 26 version II

normal booting, you'll see Booting Logo.

SW3 FLASH, you'll see SW3ing Logo.

http://electronmania.blogspot.com/2012/04/pal-bootcode-26_18.html

BootCode_PAL_26

http://electronmania.blogspot.com/2012/04/pal-bootcode-26.html

They are difference.
LG's NTSC bootcode is 20,
These two are 1026L.
(I have no PBO)

There are two NTSC bootcode 1026L

http://electronmania.blogspot.com/2011/12/ntsc-bootcode-1026l.html