Today Apple announced a new Apple TV that supports 1080p video and to go with the new device they have issued an update for the 2nd gen (black) Apple TV. The update brings the new UI to the existing Apple TV (version 5.0) bringing to the same version as the new Apple TV but without 1080p video. You can get the update by going to the Software Update option in the settings page.
If you a 3rd app on your Apple TV like aTV Flash you may want to wait doing the update till a new jailbreak is out.
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