A tipster to PS3 Fanboy sent in a screenshot of a forum post in which the manager of the Home beta says firmware version 2.5 is likely for "later October," with the 1.0 of Home releasing simultaneous to that. Seems the Home testers had found a bug that froze the PS3 and/or created sporadic network errors. When they asked when it'd be fixed, this was the answer: "We are waiting for a system software update to the PS3 to deal with this. 2.5 is what we're waiting for and 'October' is what I've heard, later October is my guess."
More useful to you, perhaps, is the fact the Home closed beta test was reopened for "thousands of new testers" sometime on Friday. I assume you can still apply for an invitation to test it, if you want to shoot some virtual stick or do some white-man-overbite dancing in their virtual bars.
Home Manager Says Firmware 2.50, Home 1.00 Set for October [PS3 Fanboy]
PlayStation Home Beta Extended Today [PlayStation.Blog]