Find in your files, the following file:

template/default/plugin/myprofile/myprofile.php

At line 702 update the code to the following lines:

[code:1]$joomlaVersion = new JVersion();
if ($joomlaVersion->getShortVersion() password = md5($row->password);[/code:1]

[b]Changed[/b]: joomlaVersion to JVersion

Noticed in Joomla 1.5 that version.php was changed from joomlaVersion to JVersion.

[b]Update:[/b] You may also need to add the following definition in:

administrator/components/com_fireboard/language/english.php

[code:1]DEFINE('_USER_DETAILS_SAVE', 'Your new password has been saved.');[/code:1]

Since saving, you are presented with the message _USER_DETAILS_SAVE and not an intuitive user message (at least in my installation).

I had the same problem, when trying to change my password I had an error message.
I was not able to solve it following your instructions, they seem a little bit confuse to me. Let me try my way:

On file /components/com_fireboard/template/default/plugin/myprofile/myprofile.php find:
$joomlaVersion = new joomlaVersion();

and replace by:
$joomlaVersion = new jVersion();

Thanks for your tip, my problem is solved!!!