To recap, Nintendo acknowledged the game-breaking bug in Skyward Sword and started making plans to correct it. You could mail your hardware to the company directly (ick!), or you could wait for a promised patch. Now, Wii games aren't exactly patch-friendly thanks to the console's infrastructure, but when one the company's marquee titles is on the line, you know Nintendo will bend over backwards to FIX IT.
Available now in Japan is the "Zelda Data Restoration Channel." That's right. An entire channel to fix one little thing. You run the channel and follow the instructions, then your save data will be corrected. I'm going to assume that this is a one-time deal and that you don't have to keep the channel installed once the patch is applied.
No word on when we'll see the channel over here, but it shouldn't be long.
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destructoid's previous coverage: The Legend of Zelda: Skyward Sword