Questions about whether Microsoft would issue patches for Windows XP Service Pack 2 for the so-called "shortcut bug" were put to rest today. XP SP2 was not patched. That was the outcome I expected. It means that SP2 is dead, which means you should take some kind of action if you are using that version.
The stopgap measure is to install XP Service Pack 3 (SP3). I say stopgap because even though Microsoft will be providing security updates to SP3 for a couple more years, the time has finally come to move along to a more modern version of Windows. Of course, I mean Windows 7.
In the meantime, get cracking on your upgrades to SP3. That shortcut bug is a nasty one and if you continue to use SP2, you are not protected.