Latest update resets all settings
I am furious, so I thought I'd pass along this warning to be careful performing the latest update from Apple for your Apple TV. The latest update tonight completely reset all of my settings. Every password, screen saver, time zone, standby, wifi setting was gone. Everything. It's like setting up your Apple TV for the first time. Only now you get to reconfigure everything you've tweaked over the many months all at once.
Definitely don't perform this update if you intend to watch something right now. You'll be out of commission for 30-45 minutes scrolling and clicking everything back to the way it was.
I wish Apple would have warned me before wiping my Apple TV clean.