Just yesterday, Apple released OS X Lion 10.7.4 the fourth maintenance update for OS X Lion. Today, Apple has released a new update for the generation 2 and 3 Apple TV models.
This update brings the ability for movies and TV show previews from the iTunes Store to be viewed in HD and fixes a few other minor bugs.
Apple TV Software Update 5.0.1
iTunes previews - Previews for movies and TV shows from the iTunes Store can now be viewed in HD.
AirPlay - Fixes an issue that caused some iOS apps to have trouble connecting via AirPlay.
Home Sharing - Improves the reliability of Home Sharing connections.
Netflix - Addresses an issue affecting Netflix login and navigation.
Stability and performance - Includes fixes for issues affecting stability and performance.
Users can update the Apple TV by going to the Settings menu, then General, then selecting Update Software.