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byt the reverter says no data found
is there any way to get out of demo mode permantly

Yes you have to put your ps3 in recovery mode , to that turn your ps3 off hold down your power button keep holding down the power button untell your ps3 turns off , then press and hold your power button untell u hear two fast beeps go to update via usb you`ll need the 4.46 reverter in your usb then install the reverter when its done you`ll be back on 4.46 ofw and no demo mode

my friend has the same thing, but he wants to know if its downgrade-able to 3.55?

No he cant with demo mode but if wants to downgrade to 3.55 fw he will need a e3 flasher and a few different things have him look up on youtube how to downgrade with a e3 flasher

iigh thx bro

No problem