The update brings a number of labeling changes to the Accessibility Settings, and in Multi-User Mode, you can set up different accounts and permissions for other users. This will allow those you share the tablet with, to set up their own wallpaper and apps. And the update also brings Knock Code to the tablet. An enhanced version of LG's KnockOn double tap feature, Knock Code allows you to create a two to eight tap pattern that would have to be followed perfectly, for a user to awaken the tablet from a restful sleep. Additionally, a number of issues have been addressed by the update, which you can find in the slideshow below.
Remember that this is an OTA update and is sent out in waves. If you didn't receive it yesterday, don't jump. You will eventually receive it. And when that notification comes through, and you feel like a little kid in a candy store, keep in mind that you should be using a Wi-Fi connection when downloading and installing the new software. And yes, make sure your battery is at least 50% filled.
source: Verizon via AndroidCentral