I upgraded to a later version of 3.2 shortly after I got the tablet, this worked fine then, I have since tried to use this update to go back to that version but I end up stuck back at he loading screen again. I have tried 3 different firmwares, of which has been successful in the past but now has no effect.
Don't know if this will help you but I was stuck at the logo screen after loading a Gingerbread ROM. I hit the reset button after waing what seemed like forever AND ejected my SD card. My tablet then did finish booting. YMMV.
My Novo 7 is also getting stuck at the "Novo 7 Basic" bootscreen. I managed to get the 4.0.1 from aionovo.com and got that working. But since it got no market, I went and installed the 4.0.1 from here. Aaaaand yeah, now Im stuck at the same place as you guys..