New out that the utility is out beta and officially lauched on the K2 customer portal.
The K2 blackpearl Migration Utility is used to transfer and manipulate data from existing K2.net 2003 databases to K2 blackpearl databases. This enables you to seamlessly start new and continue the execution of all currently running K2.net 2003 process instances on K2 blackpearl. It requires the K2 blackpearl 0807 release with the KB000370 update, both of which are available on the Customer Portal.