But it does affect the processors used on the Beaglebone and older Raspberry Pi devices.

It does not affect Raspberry Pi devices to my knowledge. Please provide source for your claims!

The CPUs in Raspberry Pi 1-3 are not affected.

  ARM11, Cortex-A7, Cortex-A5

Raspberry Pi 2 v1 use a Broadcom BCM2836 SoC with a 900 MHz 32-bit quad-core ARM Cortex-A7 processor.

Raspberry Pi 3 (and Pi 2 v1.2) uses a Broadcom BCM2837 SoC with a 1.2 GHz 64-bit quad-core ARM Cortex-A53 processor.

According to ARM website https://developer.arm.com/support/security-update it especially says

  "*Only affected cores are listed, all other Arm cores are NOT affected.*" 

and it lists only

  "Cortex-R7, Cortex-R8, Cortex-A8, Cortex-A9, Cortex-A15, 
  Cortex-A17, Cortex-A57, Cortex-A72, Cortex-A73, Cortex-A75"

    and older Raspberry Pi devices

https://www.raspberrypi.org/products/raspberry-pi-2-model-b/

But it looks like I confused the Cortex-A7 with the Cortex-R7, which is not listed.