There are a number of options to get the V1 to work. In my case my software version on the V1 was new enough that I could enable the "traffic monitor filter." Haven't had a single false from the blind spot detection and didn't have to turn K band off.
Call Valentine and ask them what your options are. If your unit it older they offer a very nice upgrade plan which will replace it with a brand new one.
'12 Alpina B7 Alpina Blue/Black
'11 1M Coupe Alpine White
'11 M3 Coupe Silverstone/Black (sold)
'08 M6 Coupe Stratus/Black
'03 M5 Sedan Imola Red/Black (sold)