In order to get the update, you have to use the Apple Front Row remote to click Menu…
Then click on Update Software…
Apple TV should tell you that “an update is available” and you can choose to Download Now or Update Later.
A handy progress bar keeps you informed. The update downloaded in about 8 minutes on my Comcast cable connection.
After downloading you can either Update Now or Update Later.
After clicking Update Now the Apple TV reboots (seemingly twice).
The Apple TV displays a progress bars as it installs (?) the new software update.
And it reboots again.
After the update is complete you check your software version by going to Settings > General > About.
When updated the software version will display 2.0.2.
