I may have finally solved the problem with Apple TVs dropping the homeshare signal. I realized that I might been approaching the problem in the wrong way. I decided to figure out if Windows (this may not be helpful to MAC folks) might be trying to solve the problem in the wrong way. I decided to try stream from Windows Media Player to my PS3. I realized that if Windows 7 was causing the problem then it may have the same problem streaming to the PS3.
I fairly quickly realized that Win7 + Virus Protection was causing problems with streaming to the PS3 and that might be causing the same problems with Apple TV. I think that my virus protection software (AVG) along with the Win7 security system was shutting down the Apple TV homeshare network. In my case - the newer Apple TV was shutting down after a few minutes while my older Apple TV would play for up to an hour. I still dont understand the difference (maybe the older Apple TV was able to provide a bigger buffer, but 1 hour seems to long).
1. My Windows firewall was killing the network. Previously, I had been able to keep the Win 7 Firewall ON while I used Apple TV. That no longer appears to be the case.
2. I stopped using AVG. Once I disabled AVG the steaming networks became more stable.
After taking these steps - I was able to stream to both the PS3 and both Apple TVs. I prefer the Apple TV because the PS3 interface stinks and its wireless modem is pretty balky.
In other words, check your Windows Firewall and your virus protection. I initially had ignored these possibilties because I had been able to connect to the homesahring network. I assumed that meant that these weren't the issues.
In other words, check network security settings on Windows and turn off your Virus protection to see if that solves any of your problems. I think the most recent Apple software upgrade may have cause issues with these aspects of Win 7. Additionally, if anyone is using Virus protection on your Mac this might be the culprit.