Mutiple compaints are being surfaced on Apple's Forum about a bug thats surfaced since the Firmware update in January (v1.1.3).
The reported problem is that text message conversations appear out of order, which can obvioulsy be confusing and infuriating for users.
Apple have admitted there is a problem and has offered a solution , which is to ensure your phone gets the time from your operator automatically. Which can be changed through General > Date & Time in the Settings app.
However, reports suggest this isn't sufficient and the problem could well persist until the next firmware update.