This morning, Microsoft has begun rolling out a new SystemUpdate that brings the Xbox 360 dashboard/kernel version to 2.0.16203.0.
Although there has been no official word from Microsoft yet, it's likely this update addresses a minor issue or small change as evidenced by the single digit increment in version number over the last update.
After updating, LT+ v3.0 and LTU v1.2 continue to work fine with backups both offline and on Xbox LIVE. Xk3y also continues to function without issue on LIVE and offline.
Check back here on c4evaSpeaks.com for official word from c4eva once he's done a LIVE log for this update.
P.S. Quit being such gullible fools and regurgitating the nonsense from Wikipedia every time an update comes out.
*UPDATE* [2013-02-20 06:29PM UTC]
Whoops. I missed the tweet yesterday from Xbox LIVE's Major Nelson (Larry Hryb), confirming our assumption that it was a minor change:
"Xbox LIVE System update out today. No big changes just an update to default settings that will only be visible to certain users in the EU."
Also, for those asking in the comments, yes, LT v2.01 and LT+ v2.0 continue to work fine after the update as well.


The purpose of these tests are to confirm whether the firmwares, PCBs, and xk3y continue to function as normal after an update. If the system got banned just from updating, that wouldn't be fine and wouldn't be considered as functioning normally, would it? Obviously we would report that. c4eva's LIVE log then confirms that nothing has changed on the back-end in the communication between the system and the drive. Unless you're an idiot, you can easily connect those dots to conclude that it's OK from a hardware/firmware/system standpoint.
As it stands currently, the firmware is undetectable. There haven't been detectable firmware-related bans since October, 2009. The remaining avenues for potential bans are ones based solely on user error and bad practices, such as bad rips, missing stealth, failure to use abgx360, burning truncated, playing pre-release early on LIVE, and so on. It's your responsibility and it's up to you to be diligent to take the normal necessary steps to prevent yourself from getting banned for those reasons.
Clear enough?