Its been stated by the Kobo Reps here that people will need to upgrade to 1.4 to get to 1.5, so yea the firmware will be avaliable.
Then again there has been planned changes to the firmware since 1.4 came out because of comments made by users for things they wished to change.
Its been pretty clear from SameerH that they are planing on a standard upgrade. Whether/When Borders will allow it for Australian customers is a different story.
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