Hi from Joomla Bliss web design firm in Ottawa,
The Joomla! Development Team has just released version 3.4.7! This is a security patch that, as before, requires immediate attention, but only for a smaller target group. The fix this time follows up on the 3.4.6 fix, and patch a vulnerability on Joomla websites that are running on the older PHP 5.3. It is recommmended every one updates to 3.4.7 though, just to stay up-to-date.
Version 3.4.7 only contains security-related fixes, so in general, it shouldn't affect templates or frontend experience.
If you are using Joomla! 3 (which we recommend all our clients do, as Joomla 1.5 and J2 are no longer supported), you can update your site in your Joomla admin panel, or download the packages on the Joomla! site. Since Joomla 1.5 and Joomla 2 are no longer officially supported, you will have to download the hotfix here, then apply the patch manually.
If you need any assistances with Joomla! upgrades or need to restore a hacked Joomla website, we at Joomla Bliss are ready to help you. Give us a call!