Cu3 for ConfigMgr 2012 SP1 has been released, so I immediately thought I should test installation in my testlab environment. As a matter of fact I want to implement it next week in the project I am working on if all goes well. Information about the things that new and that are fixed can be found at the following link: http://support.microsoft.com/kb/2882125 and you can request the hotfix there as well.
Installation is similar to the previous cumulative update, with the same installation to go through. I added 2 screenshots of the installation below.
This screenshot shows you where to apply the update and it will create packages that you can deploy to the clients, console machines or site systems.
The second screenshot shows that the installation was a success and you can reboot your server to finish.
After the patch has been applied to a client the client version will be 5.00.7804.1400 as you can see in screenshot below.
So a familiar straight forward hotfix and in my testlab I did not encounter any problems.