oxygen99 is right on the money.
Sadly, USB 1.1 chipsets are not flash capable and are not upgrade capable via a firmware patch.
BTW, a USB 1.1 will work on a USB 2.0 connection and will run at its fastest capable speed (due to USB 2.0's backward capability). But, if you have another USB 2.0 device on the same connection, it is likely that this faster USB 2.0 device will be slowed down.