The old way involved the vent screw with the X on it. Loosen it and run the car while waiting for all the bubbles to quit coming out, then tighten.
I would rather try to get the vent cycle to work right though, assuming your water pump is good, somewhere you are doing something wrong. If you are doing everything right, then the pump is bad.
I would try it different ways, press and hold button etc, hold gas pedal longer etc. see what gets it to work.
2006 330i - Jet Black - 19" E46 M3 wheels - HR Sport - 180,000 Miles...