A new version has appeared in Android Market that allows two-way video chat on more than the initial four Android phones. Basically almost every popular phone from the major Android manufacturers is now supported, but the Sony Ericsson Xperia arc, for some reason.
Oh, well, you can always download the hacked version and try to cram it in anyway, like everyone did when the two-way video calling feature was announced for only four handsets a little while ago. Hit the "What's New" section of the Skype app listing in Android Market to check if your handset is supported.
source: AndroidMarket via Engadget