You followed the instance upgrade process posted in the blog but running "zypper up" does not produce any bash patches.

There may be a couple of reasons:

1.) You are running a SLES 11 SP2 instance:
grep "SUSE Linux Enterprise Server" /etc/products.d/
to confirm

For SUSE Linux Enterprise Server 11 SP2 the bash patches are not generally available in the update repositories. SUSE Linux Enterprise Server 11 SP2 has been out of general support, i.e. receiving updates and security fixes since January 2014. However, this issue is obviously very critical and thus SUSE is making the bash fixes available for SP2 users. The update process is as follows (as root):

curl | tar -zx
2.) The update process failed

Verify that the guest properly registered with the new infrastructure:

zypper ls
should produce output that contains SMT-http_smt-ec2_susecloud_net

If this is not the case the update script should have printed the register commend to be used to re-run the registration. This command can also be found in the registration log file /var/log/cloudregister. If the registration was successful, i.e. "zypper ls" contains the service indicated above but no repos are available, i.e. the output of "zypper lr" is empty, then "suse_register -r" should do the trick to restore the repositories.