The problem is that pgf corrected a typo in its code.
\ifx \csname pgfsmaks@#1\endcsname \relax \pgf@sys@pdf@install@mask % old working pgf
^^^ typo
\ifx \csname pgfsmask@#1\endcsname \relax \pgf@sys@pdf@install@mask % new failing pgf
The typo had the side effect that if you declared two fadings or shadings with the same name you nevertheless got two shading objects in the pdf. With the correction this no longer works.
The beamer hack was relying on this side effect - it used the name bmb@shadowhorz and bmb@shadowvert for all the vertical shadings.
To correct this, unique names must be introduced, e.g. by adding a number
% this assumes that the local beamerbasebox.sty is used!!!!
\documentclass{beamer}
\makeatletter
\def\pgfutil@insertatbegincurrentpagefrombox#1{%
\edef\pgf@temp{\the\wd\pgfutil@abb}%
\global\setbox\pgfutil@abb\hbox{%
\unhbox\pgfutil@abb%
\hskip\dimexpr2in-2\hoffset-\pgf@temp\relax% changed
#1%
\hskip\dimexpr-2in-2\hoffset\relax% new
}%
}
\newcount\pgf@shadingboxcnt
\def\endbeamerboxesrounded{%
\end{minipage}\egroup%
\bmb@temp=\dp\bmb@box%
\advance\bmb@temp by.5pt%
\setbox\bmb@box=\hbox{\raise\bmb@temp\hbox{\box\bmb@box}}%
\dp\bmb@box=0pt%
\bmb@boxwidth=\bmb@width%
\bmb@boxheight=\ht\bmb@box%
\advance\bmb@boxheight by4bp%
\advance\bmb@boxheight by\bmb@prevheight%
\ifbmb@shadow%
\global\advance \pgf@shadingboxcnt by 1
\pgfdeclareradialshading{bmb@shadowball}{\pgfpointorigin}
{%
color(0bp)=(pgftransparent!50);
color(4bp)=(pgftransparent!100)
}%
\pgfdeclareradialshading{bmb@shadowballlarge}{\pgfpointorigin}
{%
color(0bp)=(pgftransparent!0);
color(8bp)=(pgftransparent!100)
}%
\pgfdeclarehorizontalshading{bmb@shadowhorz\the\pgf@shadingboxcnt}{\bmb@boxheight-6bp}
{%
color(0bp)=(pgftransparent!0);
color(8bp)=(pgftransparent!100)
}%
\pgfdeclareverticalshading{bmb@shadowvert\the\pgf@shadingboxcnt}{\bmb@boxwidth-4bp}
{%
color(0bp)=(pgftransparent!100);
color(8bp)=(pgftransparent!0)
}%
\pgfdeclarefading{bmb@shadowmask\the\pgf@shadingboxcnt}
{%
\begin{pgfpicture}
\pgftext[at=\pgfpoint{4bp}{4bp}]{\pgfuseshading{bmb@shadowball}}
\pgftext[at=\pgfpoint{\bmb@boxwidth}{8bp}]{\pgfuseshading{bmb@shadowballlarge}}
\pgftext[at=\pgfpoint{\bmb@boxwidth+4bp}{\bmb@boxheight+2bp}]{\pgfuseshading{bmb@shadowball}}
\pgftext[left, at=\pgfpoint{4bp}{4bp}]{\pgfuseshading{bmb@shadowvert\the\pgf@shadingboxcnt}}
\pgftext[base, at=\pgfpoint{\bmb@boxwidth+4bp}{8bp}]{\pgfuseshading{bmb@shadowhorz\the\pgf@shadingboxcnt}}
%
% clipping is needed because shadow is typeset on top of box
\begin{pgfscope}
\pgfsetcolor{black}
\pgfpathrectangle{\pgfpoint{4bp}{8bp}}{\pgfpoint{\bmb@boxwidth-0.2bp}{\bmb@boxheight-2bp}}
\pgfusepath{fill}
\end{pgfscope}
\end{pgfpicture}
}%
\fi%
\bmb@temp=\bmb@width%
\bmb@dima=\bmb@temp\advance\bmb@dima by2.2bp%
\bmb@dimb=\bmb@temp\advance\bmb@dimb by4bp%
\hbox{%
\begin{pgfpicture}{0bp}{0bp}{0bp}{0bp}
\ifbmb@shadow%
\begin{pgfscope}
\pgfpathrectangle{\pgfpoint{0bp}{-7bp}}
{\pgfpoint{\bmb@boxwidth+8bp}{\bmb@boxheight+6bp}}
\pgfsetfading{bmb@shadowmask\the\pgf@shadingboxcnt}{%
\pgftransformshift{\pgfpoint{0.5\bmb@boxwidth+6bp}{0.5\bmb@boxheight-4bp}}}
\pgfusepath{fill}
\end{pgfscope}
\fi%
\unhbox\bmb@colorbox%
\pgfpathqmoveto{-4bp}{1bp}
\pgfpathqcurveto{-4bp}{-1.2bp}{-2.2bp}{-3bp}{0bp}{-3bp}
\pgfpathlineto{\pgfpoint{\the\bmb@temp}{-3bp}}
\pgfpathcurveto%
{\pgfpoint{\the\bmb@dima}{-3bp}}%
{\pgfpoint{\the\bmb@dimb}{-1.2bp}}%
{\pgfpoint{\the\bmb@dimb}{1bp}}%
{
\bmb@dima=\ht\bmb@box%
\pgfpathlineto{\pgfpoint{\bmb@dimb}{\bmb@dima}}
\pgfpathlineto{\pgfpoint{-4bp}{\bmb@dima}}
\pgfusepath{fill}
}
\end{pgfpicture}%
\box\bmb@box%
}%
\ifbmb@shadow%
\vskip4bp minus 2bp%
\else%
\vskip2bp%
\fi%
\egroup% of \vbox\bgroup
}
\makeatother
\setbeamertemplate{background canvas}{\includegraphics[height=\paperheight]{example-image}}
\setbeamertemplate{blocks}[rounded][shadow=true]
\begin{document}
\begin{frame}
\begin{columns}[t]
\begin{column}{.25\textwidth}
\begin{block}{First block}
This is the first block.
\end{block}
\end{column}
\begin{column}{.75\textwidth}
\begin{block}{Second block}
This is the second block.
\end{block}
\end{column}
\end{columns}
\end{frame}
\end{document}
With this correction the style works in xelatex too, so it will probably be added to beamer in the not to far future.