The HTC One S update will bring HTC's Sense 4+ running on top of Android 4.1, and the update will give all of the models the silky smooth scrolling (along with alluring alphabetic alliteration) of Project Butter. Google Now makes sure that the information you need to see, like the morning commute, weather, and the morning Gold fix from Zurich, are sent to your phone in a timely manner.
The HTC One S update is being tested in Telus' own lab while the updates due in February have not yet been tested.
source: Telus via MobileSyrup
Telus has one Android 4.1 update left for this month and two scheduled for February