I pointed at AlexT's repo and used okpg install to get to the latest version.
root@bilbo:~# opkg list | grep nodejs
nodejs - 0.10.32-r0 - nodejs version 0.10.32-r0 nodeJS Evented I/O for V8 JavaScript
nodejs-dbg - 0.10.32-r0 - nodejs version 0.10.32-r0 - Debugging files nodeJS Evented I/O for V8
nodejs-dev - 0.10.32-r0 - nodejs version 0.10.32-r0 - Development files nodeJS Evented I/O for V8
nodejs-doc - 0.10.32-r0 - nodejs version 0.10.32-r0 - Documentation files nodeJS Evented I/O for
root@bilbo:~#
Should the node executable have been updated? based on the datestamp it does not appear to have been updated when I ran the opkg intall