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Although not making an announcement on the new firmware nor making it available to users, Sony has updated any references to the latest firmware for the Vita to be 2.05, including the changelog. From what can be found so far, the firmware update is being outed to "improve software stability." Usually when Sony mentions something even remotely close to that, they are patching any open exploits discovered in the preceding firmware. On top of that, Sony has also posted on their update page that firmware 2.05 will be required if one wishes to access and use any PSN related services. There's only one real way to find out and that's when Sony releases the update.
When that does happen, we'll be sure to let you know if the update is indeed mandatory and how it affects the running of homebrew, etc. In the meanwhile, sit tight.
Source: US Playstation via PlayStation Lifestyle & Exophase
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according to wololo.net it does indeed block the UNO exploit and is required (im playing persona so im not going to test it)
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