Had a little discovery today when we realised possibly the fastest replacement of a KB Article ever, (almost instantly!).
It appears that the following behaviour is experienced when you perform a manual installation of MS12-034 for Silverlight:
However, in WSUS, one observes this:
This then means that any systems with Silverlight managed by WSUS would ultimately still need KB2636927, as it gets evaluated as still needing that since the 'older' KB2636927 has already been replaced. That might then suggest why there is only 1 'version' of Silverlight in SUP/WSUS. Therefore, do not be too alarmed if all systems with Silverlight 4 or below are upgraded to 5 after the application of May's security bundle via Configmgr!
Oops semi-unplanned upgrades!
Update!!! : WSUS is now reflecting this correctly. So, the critical update KB2690729 updates and patches all Silverlight 4 instances to 4.1.10329. The versions on 5.x will behave as normal too.
To announce a detection change for KB2636927 for Microsoft Silverlight 5 to correct an installation issue. This is a detection change only. There were no changes to the security update files. Customers who have already successfully updated their systems do not need to take any action.