You can rename COWON_V5_FW.bin to COWON_V5_FW.zip and extract it with WinRAR, to get those folders. (You cannot *open* the file with WinRAR, only *extract* it.)
I extracted the content of the 1.17 firmware file for you, but you can easily do it yourself as well if you need another version:
http://www.megaupload.com/?d=HLEQMEFX