Playstation 3 Theme Builder 2.0 has been released, New Features Include:

Limited my Egg Nog consumption so the release notes would be better
Fixed the bug that was causing the application fail for some users on startup.
Finished refactoring code, app should be faster, less memory hogging now.
Added support for localized versions of the software.
Added ability to cycle through the backgrounds during Test Drive.
Added ability to save the current test drive view as the preview.
All icons can now be deleted.
Local information is fully supported now.
A creator icon can be created for each supported language.
A theme icon can be created for each supported language.
Pointer Hotspots and icons fully functional.
Theme Extractor fully functional
Fixed a bunch of other bugs.