While it doesn't technically put the Xbox 360 Edition on par with the PC (as the link claims), it is a pretty massive update that does bring in a lot of the PCs more recent features... but you can judge for yourself from the change log.
ETA: Sorry, got distracted... 4J habitually posts the change log when the update goes to Microsoft for certification testing. That testing takes anywhere from 7 to 10 business days and then, if it passes, the update gets released. If it fails, it goes back to 4J for more work and that can take whatever. That's why no release announcement has been made yet... 4J are not counting their chickens before they hatch.. To the best of my knowledge, no 360 update by 4J has ever failed cert testing, so it should be very soon.
He was asking when not what........ on the Xbone in the store there is a update available now button however it has not hit yet. My guess we should have it very soon. Still no official word for 4J that I have seen.