Recommended Solution:

The solution in this case is to download VersaMail 3.5.4. However, You don't need to do a hard reset as darthvadereric had suggested.

In addition, the prc that he has to offer seems to do a bit more than is necessary to install VersaMail. I didn't do a hard reset before using it and afterwards, a bunch of the settings on my 700p had been reset. All you really need to do is download the real installation package and install it. It's available here at the mypalm beta site.

Just select your device and wireless provider (700p and Verizon Wireless in my case) and proceed to the next page. There will be a link on the right-hand side under the heading "my stuff" to download VersaMail.