I think the start up procedure on the 700 is a little different than the others as well. Here’s the procedure for the 700 (I’ve done it and it works fine)…
Set the camera to 720 60p HQ
Turn the camera off
While holding down the display button turn the camera on
Press the Menu button while pressing the Focus Assist button
Advanced Menu will be displayed
Select the Advanced Function Menu and then push the Set button
Select Pixel Compensation and push the Set button
Change the parameter to Execute, then push the Set button
Pixel Compen Executing will appear
Pixel Compen End will appear
Reboot operation is required to reflect the pixel compensation data