I assume you mean flashing an encrypted 10.2 firm0/firm1 partition to the nand chip?
This can and HAS been done by several people over the last 36 hours in another thread. It requires a hardmod and I think access to an exploited 3ds on 9.2 that can generate xorpads for the firm partition, but the general gist is that you take an the encrypted 10.4 firm0/firm1 from your console, xor it against a decrypted 10.4 firm0/firm1, then use the result to encrypt a decrypted firm0/firm1 with your console's key. You then patch the encrypted 10.2 firm0/firm1 into the clean nand.bin you dumped from your 10.4/10.5 system, then flash the entire thing back to your nand chip.
The result is a 10.4 or 10.5 system software running on top of a 10.2 firm, making the entire system vulnerable to mch2 again and allowing you to downgrade to 9.2.
The big hurdle is that it requires a hard mod to dump/flash the nand, and it is only useful for us because Nintendo fucked up and only iterated the revision number when they patched mch2. If they had iterated the version number and updated the home menu to check for the iterated version number then the entire process would fail and result in a brick.