The update includes a couple of changes related to Android 4.4.4, such as stability, framework and security improvements. In addition, Bluetooth connectivity has been improved. With the camera, one of the more useful additions is the ability to stop and resume video recording. A pause and resume button is added to the viewfinder, and you should see an improvement in picture quality. The camera will now produce more natural colors using flash, and take better pictures in low-light using the front-facing camera. You will also find improved photos under fluorescent lighting.
New Verizon apps included with the update include the latest version of VZ Cloud, and an improvement to Visual Voicemail that allows you to view caller, voicemail details, and access messages on-screen. And the ISIS mobile app has been added.
The update will come OTA, so keep an eye out for the notifications. It will take 3 to 5 minutes to download the update, and another 3 to 5 minutes to install it. The software version is 21.11.21, and we suggest using Wi-Fi when downloading and installing the new build. Also, make sure that your battery is fully charged before starting the process.
If you haven't received the update yet, be patient. You can try to coax it our of your device by going to Settings>About phone>System updates.
source: Motorola, Verizon via DroidLife