I also been waiting for this update that came out on Sept 10th. I was chatting with the rep and he said this update should resolve the battery issue too that affected a lot of us 4-6 weeks ago. I'd been manually going into the Wear App and clicking Watch Update but nothing happens yet.
I'm glad I'm not the only one who hasn't got the update. At least I know it's not just me. If you do get the update, please post. I'm in CA so I hope US gets it soon. The Samsung news release implied it was out for everyone, but apparently it's being batched OTA based on countries.