More details are available on it HERE for those who previously missed this Paintown Mod Pack V2 PKG update.
Instructions:
1- Install Paintown Mod Pack v2.pkg (if you not have on your PS3)
2- Install the pkg of your version (3.55 or 4.XX)
Enjoy!
Stay tuned for more PS3 Hacks and PS3 CFW news, follow us on Twitter and be sure to drop by the PS3 Hacks and PS3 Custom Firmware Forums for the latest PlayStation 3 scene updates and homebrew releases!
I know we posted on it before as mentioned in the article, but I have re-promoted it to the main page now for those who missed it previously and +Rep Markus95 for the new download link.
This looks fun! I'll try it out. Hopefully I can get it working... I had some issues with an earlier release of Paintown but just gave up after a few tries.
and now square is dead to me! 
...
Merry X-mas everyone