I got a tweet from AVG on how users who are affected by the recent AVG 2011 update 3292 can recover their computer. It is a video tutorial. Note that I will not be responsible should you NOT be able to recover from this procedure.
Tag: AVG
AVG 2011 271.1.1/3292 (432/3292) Update Caused PC Not to Start
If you are having an AVG 2011 software, and you tried to update it today, you might not be able to boot up your computer again. This is due to a botched update.