The additions in the update are clearly meant to help the app blend in with Ice Cream Sandwich devices, but it also helps to give everyone a taste of Android 4.0 as we wait for it. ADWLauncher Ex now has a new Dockbar and a ton of visual flare. It also adds in the new ICS behaviors of creating a folder by dragging an app onto another on your homescreen, and shifting apps when moving items within a folder. There has been a lot of work done on folders in this update.
ADWLauncher Ex has always been a top shelf launcher replacement on Android, and the devs are still hard at work supporting it. That's always good to see. The new features are all in the video below. And, if you haven't gotten it yet, you can grab ADWLauncher Ex in the Android Market for a bit over $3.