First of all, you'll need the latest driver from 3ware to match your kernel version. There's no match for any of the SME 5.x series, but the RedHat 7.3 version *MIGHT* work with 5.6, beta 7. I've been meaning to test this, but haven't. (download rh7x.tgz) They do provide source code if you know how to compile it for your kernel, but my experiences with this have been less than marvelous.
After the driver is installed and working, you then are allowed to upgrade the firmware on the card.
After that is all working, the monitoring utility can be installed, but you will have to manually install it, as the 3ware script assumes Runlevel 6, whereas SME operates at runlevel 7. Back in one of the earlier howto's, someone posted a modified script for doing this. I don't believe it will work, but studying it will show you what you need to do from the keyboard to install the monitor -- not as bad as that sounds -- most of the 3ware script isn't needed.