The PlayStation Blog notes that the December 22 (i.e. today) PlayStation Home update will restore voice chat to the service. The feature was "temporarily" suspended with the 1.04 patch, but now the oral racism and sexism can flow freely again in personal spaces and clubhouses with 1.05.
To update the lifestyle program, just click on the PlayStation Home icon on the XMB. For those reading this while immersed in the virtual confines embrace of Home, you'll have to log off and return to cruel reality first in order to download the patch.