At 4:12 ET today Apple updated its AppleTV firmware. It should be hitting devices shortly or can be downloaded for fun below. There is no update list as of yet.
|AppleTV(2G) (AppleTV2,1)||4.2.1 (8C154)||12/14/2010 16:12:02|
Update: According to Apple’s release notes the update resolves an issue regarding 480p playback as well as a video re-downloading issue.
|TV resolution fix||Addresses an issue that causes some high-definition TVs to incorrectly display at 480p.|
|Download fix||Addresses an issue that may cause a movie or TV show to be re-downloaded.|