Yes, the blue flashing light and glowing dial means it’s still updating.
To recap the essentials:
I think you maybe need to be a little more patient on your next attempt.
If after a power cycle the Mu-so boots to the same progress point, it means it was interrupted the last time it got there.
When I updated my Qb with the beta of this release, it took about 20 minutes and the download part of that was very short as my broadband is fast. This update does take a long time and I remember when I did it that it appeared to be stuck in one place for about 10 mins. As Clare says, you need to be patient!
I did give it about 1 hour but will try again when I am back. It could be my phone switched off during the update.
In case anyone reads this thread and assumes from the comments above that the update will brick your Muso, mine also just completed without the slightest fuss or drama in the time it took me to go and make a cup of tea and open a packet of chocolate hobnobs. R2 was on when I came back in to the room.
I also made a cup of tea while mine updated (over wi-fi, with the router a whole floor away). Wise advice from @Richard.Dane about any Naim update or reboot!
Lol! Everything always seems to work out better after a good cup of tea, regardless of the situation…
Trouble is I want the Mu-so on while I wait for the kettle to boil…
First world problem, right there!
I’m not worried about it being bricked. I will get it cracked. As much as anything a warning that it is not as straightforward as updating an NDX2 or Nova which has always been very fast and trouble free for me!
When I updated I used my MacBook Air M1 and worked OK
Yes, the latest-generation streaming products - including your Nova and NDX-2 - are so much more advanced in many ways, including the slickness of update procedure.
But we hope by offering step-by-step advice, we can ease the process. These are important updates, which - as noted above - i’m sure the majority of users will execute painlessly.
That was my point though. I don’t know what could be more straightforward than clicking through to start the update then shuffling off to make a cup of tea while it happens.
My QB1 updated first time - just took a bit longer and less progress information than when updating my Nova. Apart from that is was just as easy - a different world from updating first gen Unitis!
That’s what I tried the first time! Didn’t work.
You don’t have time to make a cup of tea with the Nova or NDX2. 
Anyway it is now all sorted as I knew it would be eventually. It involved a lot of rotating circles of different types and in both directions, all lights and logo flashing, the Qb appearing and disappearing in the app several times, going back to the original firmware, asking me to download the update but, before I had the chance to run it again, decided that it had in fact already updated. A bit weird but all running fine now.
It turned your system through 90 degrees.
Will update the 16 year olds QB later.
Get another one, and don’t update them at the same time. 
(As for: 1st world solutions.)
Can I just say what a great resource this forum is, as Clare’s clear and calm guidance, various members’ comments and a cup of tea helped me solve the update issue my Muso ran into.
I second that on Clare’s help, although it is slighly painful to hear I’ve got a Legacy QB. I even gave it a 2nd Gen peacock grille to pretend it’s still cool, young and sexy
NRJ FM is working again. Nice. Thanks on behalf of missus pb.
Order of visuals
(approx 5 minutes for all 5 steps)
Just updated mine with a nice cuppa in hand. All went smoothly, job done.