Note: all download versions from V1.01 onwards have the Shellshock fixes already included in the OS image.
The download files have been updated with the latest OS updates and kernel patches, which incorporate fixes to a just-discovered and potentially serious Linux security vulnerability known as Shellshock. You can either download a new image and configure it as with the previous version, or you can update the image yourself via VNC or SSH.
Now reboot the pi. The dist-upgrade command will take ~20 min to complete on a fast (Class 10 or better) SD card, and as long as 45 minutes on a Class 4 SD card.
For those using other Linux/Unix/Multix/Posix/*nix boxes, this security hole is just about as bad as it gets and it has been present in most versions of *nix running the bash shell going back as far as 1995.
The update process first updates the distribution list, and then installs those modules found in the updated list that are more current than what's currently installed. It might take less (or more) time, depending on how many modules have been updated since the last time Raspbian was updated.
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