Upgrade V1.1 is now available for PMW-F3 cameras, including ability to use the S&Q knob for menu navigation. However the release notes fail to instruct you how to turn it on. Apparently these instructions are in the new Operation Manual which of course has not yet been posted to the internet.
But the instructions are simple, even if not intuitive. Just toggle the S&Q utility between its normal function and menu navigation by pressing the "Cancel" button below the eyepiece and above the battery compartment once.