fireCore just published some news regarding the development status of the aTV flash application for jailbroken Apple TV2.
The installer, and last.fm portion are ready for beta. The new Apple TV2 iOS 4.2.1 will require some major ajustment but nothing too big.
The Couch Surfer is 80% there and is now able to play HTML5 video. You can see a short demo below:
CODEC/NAS streaming is 35% done. At the moment the development team has been able to play non iTunes files like AVI, MKV and WMV.
The one thing needed right now is an update to ba able to jailbreak the new version of the Apple TV.