In KB 247 the following IMPORTANT note says:

"Important: This Patch should be installed only if the SourceCode Migration Utility (used to migrate data from K2.net 2003 to K2 blackpearl) has been used."

 However, in the PDF instructions that come with the K2.NET 2003 -> BlackPearl migration utility, the following IMPORTANT note says:

"IIt is very important to note the following:

1. Prior to running this utility, K2 blackpearl 0803 including KB000274 should be completely installed and configured for the target environment i.e. if you plan on running K2 blackpearl in an NLB clustered environment, it should already be set up in this fashion. Best practice recommends making backups of the clean K2 blackpearl databases which can be restored later AFTER a couple of test processes have been deployed and tested in the new environment."

My head hurts.