Microsoft has begun rolling out a new SystemUpdate that brings the Xbox 360 dashboard/kernel version to 2.0.16202.0.
Backups continue to work fine on LT+ v3.0, LTU v1.0, and xk3y offline and on LIVE. [Admin note: LT v2.01 and LT+ v2.0/v2.0b are fine as well!]
Xbox LIVE's Major Nelson (Larry Hryb) posted this about the update:
"In this update, we are correcting some issues such as displaying the incorrect playlist name when launching a playlist from Xbox SmartGlass to the console, an error with Xbox Video closed-captioning and an error with Xbox Music that some were experiencing."