I just received an update to Android Wear app, taking it to version 1.3. This is part of the next phase of improving the Android Wear smartwatches. Once the firmwares arrive for the respective smartwatches the following features will work –

-Interactive watch faces that respond to your touch
-Together watch face to keep you connected to a friend
-Weather app to see the forecast for the next 4 days
-Translate app that lets you tilt your wrist to share a translation

However, it would be helpful if LG updated their own apps eg LG Health to sync fitness data properly from the Watch Urbane. This app has still not been updated properly as no heart rate data gets saved from a workout. Shame on you LG! It wouldn’t be so bad if the Google Fit app provided this functionality, but it doesn’t either. So before we get new features, it would be great to fix the original ones!

Source of new feature list – androidpolice.com