I'm on 2.53 and recovery mode still works for me.
what u do is u:
1. hold down the power button for about 10 secs or untill the power light turns red.
2. Release the power button then hold it down again, you will hear a beep, a second beep (still hold down power button), then two quick beeps (beep...beep) then release power button.
If it doesn't work and the system shuts down just release the power button and hold down again till you get the three beeps.