I have seen at least 5 separate instances where users have complained that the FTP 7 module that ships for IIS 7 does not honor the “Data Channel Port Range” and the “External IP Address of Firewall” settings.
Whenever you make a change to this setting you need to restart the FTP service for the change to take effect.
In all the instances that were brought to my notice users had run iisreset after making the change. But an iisreset does not help.
In IIS 6.0 the FTP Service used to run in inetinfo.exe. So whenever you run iisreset the FTP service is also restarted. But with IIS 7 the FTP service (FTP 7) runs in an independent svchost.exe. So the iisreset does not restart the FTP service.
You will have to restart the Microsoft FTP Service from the Services MMC console.
From a command prompt you can run
net stop ftpsvc
net start ftpsvc