Hi Peter.
What I did was to copy the current version of the .bb file (in this case nodejs_0.8.18.bb).
Changed the name to the node version I wanted (nodejs_0.11.2.bb).
In the SRC_URI, I removed the "link" to the patch file (make sure it also points to the right location to get the .tar.gz file). What I could see there were changes in the 0.11.2 to fix some of the problem with ARM compilation (the reason for the patch).
But there might be other problems that needs to have a patch ( I haven't played around that much with this version yet, in the Freescale processor).
You also have to change the md5sum and sha256sum. You can either try to find those on the node.js download site or just compile (bitbake) and it will give you error (miss matching md5/sha256 sum). Copy these sums into your new .bb and re-compile.
I haven't tried the 0.10.x version in yocto, so I'm not sure if there needs to be any patches.