I get the news from the official PS3Key. The newly-released v1.2 and v2.2 firmware updates are not working properly on fat PS3 models. The update seems to be fine on slim models, though.
If you are using a fat PS3 model, I advise against installing this update.
Maybe the PS3Key have some questions, but we are know that the PS3Key USB make us play PS3 games free. So it can be forgived.