1. A method for dynamically updating an optical transceiver that includes at least one processor and a persistent memory, the method comprising the following: an act of the optical transceiver writing data to the persistent memory of the optical transceiver to indicate that an updating of microcode currently stored on the persistent memory is to occur; an act of the optical transceiver processing received microcode containing instructions that are structured such that when executed by the at least one processor of the optical transceiver, the execution of the instructions affects the operation of the optical transceiver, wherein the microcode includes operational or control code in the form of firmware and/or software that runs on the at least one processor and controls the operation of the optical transceiver when executed; an act of the optical transceiver causing at least the processed representation of the received microcode to be written to the persistent memory; an act of the optical transceiver determining that all of the microcode that is to be written to the persistent memory during the update has been written to the persistent memory; and an act of the optical transceiver altering persistent memory to reflect that the update is complete.