This is the new (black) AppleTV software being tested on an iPhone with some aTV Flash components installed.
so this is using the limera1n exploit i assume
As was stated in their blog post, aTVFlash Black will require a pre-existing Jailbreak, and they will simply be providing the applications to enhance the experience.
Of note, I would personally recommend going with PwnageTool rather than Limera1n at this point, as currently PwnageTool is the only one that will actually pre-install SSH for you so that you can get in to add additional packages at this time.
The other tools will jailbreak the AppleTV, but leave you without a means of installing additional packages (like Cydia, which is currently non-working, ssh or other working command line applications). While that will certainly be fixed soon, the other tools (Greenpois0n and Limera1n) are currently non-useful in their current state.