I too have been having a hard time updating and confirmed that it is not an issue of bandwidth and internet speed. Additionally, my java is up-to-date and I've re-downloaded the launcher to be certain.
For some reason I still have awful DL speeds when using the launcher. Is there a way to manually install the mods?
I attempted to do so by downloading the archive file specified in the console when the launcher attempts to update (in less than a second) and dropped it into the correct directory for the ultimate modpack, but the launcher still forces an update whenever I launch. As it stands now, the launcher downloads at less than 0.1 MB/s, which is beyond slow. As a comparison I downloaded Borderlands 2 in the time between my posts (at 10+ MB/s)
I'm currently using the launcher I downloaded from the official FTB website several hours ago.
EDIT: After poking around for a bit I found that creeper host (http://www.creeperhost.net), the server group that FTB launcher gets data from, is currently down for maintenance. Looks Like no minecraft tonight.