More modern look coming this fall.
Genius Recommendations for Movies and TV Shows Appearing on Apple TV
Improperly-displayed (left, via @cthielen) and properly-displayed Genius option for Movies on Apple TV
Despite the strange display of the menu option, the feature does appear to have been functional since its initial appearance yesterday, with users being able to access Genius recommendations for their content.
Genius movie recommendations on Apple TV (via @benfurneaux)
Genius recommendations for movies and TV shows have been offered for some time in iTunes itself through the iTunes Sidebar, but those recommendations have not been available on the second-generation Apple TV. Genius recommendations are also available through the iTunes app on iOS devices.