When you want more function out of your set-top box/media player from the folks at Cupertino, you have one great option: Jailbreak Apple TV.
Plex makes a your Apple TV that has been jailbroken much more versatile. It's based on the open-source XBMC, which is also the basis for Boxee. Almost any kind of video can be streamed directly to the box from your Mac. The video above shows an example. Looks like you can finally enjoy your Hulu on Apple TV.
The second everyone knew that Apple TV ran on iOS and was powered by the A4 chip, one thing went through the minds of users: We can jailbreak Apple TV!
As hackers got to work once the device shipped, they started finding all kinds of cool things, and realized that the UI was essentially an App running within iOS, the only App Apple TV was designed to run. After a lot more playing with the set-top box, we started hearing stories of Apple TV jailbreaks in which it was possible to launch other applications.