This brings a new Home interface, bug fixes, book reocmmendations in your library, and in-app upgrade-notifications.
Nelson explains the update is for those with Android 2.1 or later and is a 3.2MB download. The screenshot seen here, by TFTS, shows the new Home screen. The Links at the top are for Home, On Device, Archive and the Store.
If you’d rather see the older layout, touch the On Device link and you’ll see something similar to that. Nelson finds the store easier to access now.