No there isn't any new approach to this, theres very little need to do that nowadays - when that faq was written unity used an old version of pvrtextool that really sucked, but thats not the case any more. Just setting the texture to compressed will use pvrtc on platforms that support it.
If you want to handle this manually, you'll have to write your own workflow tools to detect changed atlases, recompress to pvr and then replace in the sprite collection. In tk2d 2.5, there is a callback when a sprite collection is successfuly built, tk2dSpriteCollectionBuilder.OnPostBuildSpriteCollection, that you can use to trigger your code.
Topic: How to handle PVR compression with Sprite Collections (Read 3872 times)
