Just a few days ago, Sony released a firmware update for the Vita. It is supposed to fix some bugs when running certain games. Dynasty Warriors: Next was mentioned in the update. This patch does not cover any hacks or anything like it, and their has been no hacks for the Vita itself yet (thank goodness, because if it does get hacked, the life of it will be over before it even started). You can update using the Vita itself, using a PS3 that is firmware 4.00 and above, or a PC using its new content manager. Above is a picture of the update taking place. Hit the link below to visit PlayStation Japan's website to get the update. It has been translated to English to save you some time, or you can hit the link that takes you directly to the website with no translation.
PlayStation Vita Update Site from PS Japan (Untranslated)
PlayStation Vita Update Site from PS Japan (Translated)