Today BuddyPress 126.96.36.199 was released you can read about the release right here. We’d advise you to get the latest version right now and a big point to note is that whilst it has been tested on WordPress 2.9.2 the requirement for BuddyPress has now been set to 3.0 as said here:
“We’ve also bumped the WordPress version requirement up to 3.0. BuddyPress 188.8.131.52 has been tested to work with WordPress 2.9.2, but our mantra has always been to support the current version of WordPress and maintain backwards compatibility as much as possible.” – John James Jacoby
You can read about the release history here. This is an important upgrade to fix the issue that meant if you marked a user as spam or attempted to delete them there were major issues so we’d say if you’re running 1.2.5 it’s a must as an upgrade.
Grab the download right here.
EDIT: You may want to go grab 184.108.40.206 as there was a typo in 220.127.116.11 so it was released to fix.