I applied the Apple TV update released today and was horrified to discover that both my movie wishlist and TV show favorites list tabs had disappeared. At first I thought that the Apple TV had lost the ability to display these, but the buttons to add titles to the lists was still around and when I added some items, the tabs came back. Since then, I have had a single occurence of the new wishlist tab telling me that I had not added any movies to the list and that I needed to add one before the list could be displayed. In this case a restart of the Apple TV fixed the problem. I wish that this had worked to fix the original occurance, but apparently the original lists had truly been deleted as I couldn't even find them on my iTunes account until I started adding titles to the blank lists. Very frustrating as I had a massive list, carefully ordered so that I could find the titles I wanted most easily.
Anyway, be warned. This update adds nothing major, it is a stability update, so if you are interested in keeping your wishlist and favorites list and are not haveing problems with stability, you might want to consider waiting to find out if Apple might fix this issue.
Regards,
chris