The update is showing as available on my side, im on 02.

I believe the reason some folk in UK cant see the update is bcoz they are using the UK Firmware. Where as other folk such as myself have the Global version or US Version installed.
The UK update release isnt out yet according to http://wiki.maemo.org/Maemo_UK_variant_firmware

Then again its always gud to be patient in updating as sometimes a firmware update can lead to problems rather than do good.