Here's what I did. Follow the instructions in the M1XEP manual (page 23) for setting the XEP to a static IP address. Note that you have to wait until the RJ45 jack is blinking (two quick blinks) to remove the jumper -- do not power down, just remove the jumper.
Then, set the ip address on your computer to something that can see it, such as 192.168.0.2 (the M1XEP will be address 192.168.0.251). Then, open a DOS window (Run, CMD), and try to ping 192.168.0.251.
To set your ip address (using windows), you have to go into your network settings and choose a fixed ip address. you can verify it by doing an ipconfig from the DOS window.