The update also brings a new notification panel that displays missed calls and emails and lets you respond to the call or email directly from the screen. Guess what is added to the camera settings. Why, it's the feature of the week-photo filters! Different filters will be available to enhance your pictures such as warm vintage, cold vintage, black and white, sepia, color highlights (blue, green, red/yellow). When you're recording a video, you can now stop in the middle and resume filming so that everything gets recorded in one take.
The update will be coming OTA, but if you can't wait, you can try to update your phone manually by clicking on "Home" > "Applications" > "Settings" > "About Phone" > "System updates". Press "Restart & install". The update is 62MB in size. It will take 5 to 7 minutes to download and 5 to 7 minutes to update.
source: Verizon (1), (2), (3) via AndroidGuys