After Googling, several site's (e.g. http://www.velocityreviews.com/forums/t30077-cisco-827-flash-memory-and-ios.html) list the upgrade of the IOS as the solution. In hind-sight, to avoid this it may be a good idea to first upgrade the IOS to the latest version before attempting to upgrade the ROMMON.
System Bootstrap, Version
Copyright (c) 2000 by cisco Systems, Inc.
C827 platform with 32768 Kbytes of main memory
Unable to initialize flash device at FFE80000 -- device not found.
CISCO C827 (MPC855T) processor (revision 0x801) with 31744K/1024K bytes of memory.
Processor board ID JAD06430E2L (2370919839), with hardware revision FD3C
CPU rev number 5
1 Ethernet/IEEE 802.3 interface(s)
1 ATM network interface(s)
128K bytes of non-volatile configuration memory.
Cisco Internetwork Operating System Software
IOS (tm) C827-4V Software (C827V-
Copyright (c) 1986-2000 by cisco Systems, Inc.
Compiled Mon 10-Apr-00 13:45 by phanguye
Image text-base: 0x80013170, data-base: 0x8067D780
ROM: System Bootstrap, Version
Router#show file systems
Size(b) Free(b) Type Flags Prefixes
131072 130366 nvram rw nvram:
- - opaque rw null:
- - opaque rw system:
- - unknown wo rommon:
- - network rw tftp:
- - opaque ro xmodem:
- - opaque ro ymodem:
- - network rw rcp:
- - network rw ftp:
To resolve the issue a newer version of the IOS needs to be installed on the router. This becomes as issue as the "flash:" is not detected. The IOS needs to be installed over the serial interface using the XMODEM commands. Boot to the ROMMON prompt, i.e. reload the router and hit the break sequence.
Depending on the size of the image, this may take a while. Also depening on the router, the ROMMON version, you may be able to configure the xmodem speeds, etc. I used Windows Hyperterminal (hypertrm) for this. Once it's done, set the confreg back (0x2102), if you changed it, and reset the router. Should all be good now.