hmmm?? since when could you "upgrade" chdk? (afaik you can only install new build).
Just try with a fresh new build and...
1) download cardtricks
2) download the a720is chdk build
3) put in your card
4) format using cardtricks
5) make bootable using cardtricks
6) copy over CHDK build using cardtricks CHDK->Camera
7) take card out. flip write protect switch ON (REMEMBER THIS!!!!!!!)
put into cam
aaaaand it should work. if it still doesn't post back, tell me what you see when you start it up, and i will try to help you