I don't think you can exchange it for a Roku 1. However, you can trade whatever your current car is for a 1971 Ford Pinto with 900,000 miles on it, a blown engine, and they'll even throw in four flat tires at no extra cost.
I'm sure they'll fix the Roku 2 soon, since it already got its first firmware update.
Here is an example of a HLS stream that played on the Roku1 2.9 and does not play on the Roku2 (hangs at 33% forever).
http://188.8.131.52/184.108.40.206/4e ... tream.m3u8