So the blogosphere is mostly jumping up and down enthusiastically over SlySoft's apparent compromise of BD+, the Blu-ray only virtual machine based security layer on top of AACS encryption key management. A more balanced view is Scott Fulton's blogicle on BetaNews.
The beta of version 18.104.22.168 is apparently not without problems or exceptions, as indicated by a check of manufacturer SlySoft's forums today. Users reported problems copying Fantastic Four, Live Free or Die Hard, Sunshine, The Hills Have Eyes, and Spiderman 3 - which collectively constitute the bulk of all BD+ titles currently available.... Exactly how BD+ equipped content knows it's being decrypted by a validated BD+ VM, though, is a little mystery.
I have no inside knowledge. Period. However, if I were the BD+ licensing folks or the consultants who developed BD+, I might not put my best version of the technology out there immediately. I might hold back some capabilities to see how pirates attack my security system. I might make several small improvements in order to get a better picture. I can then evolve my threat analysis and implement appropriate countermeasures while working my way toward the best implementation.
Then again, BD+ might never work. The Cat and Mouse game continues.