The update is sized at 29.35MB (ver 5.10.605.9) and will come with a few noticeable improvements to the UI and features along with numerous security fixes.  After it’s done, the Droid Incredible 2 get:

• Improvements to clock/alarm and their widgets
• Better representation of network signal strength with 5 bars
• Ability to play videos available on the phone when in airplane mode

Verizon has already started rolling out and if you still haven’t got it, check by going to Settings ->System Updates ->Check New.

Source