From vimeo kodakhd group I came to know about the developer mode in the Kodak Zi8.
To enter the developer mode you just have to press buttons "Trash" - "Camera" - "On/Off" when turning on the Zi8.
This mode gives some on screen tests for calibration, defective pixel testing, other calibrations as well as the lens test. You can also reset your device to factory settings and format from the on screen menus.
One thing to note here is that "FW Version" cites a SDK_VERSION:3.5.1001 which may be the SDK used by Kodak to upgrade/setup the firmware.