Although the phone will eventually tell you, you can manually check for the update by heading into Settings>Phone update>Check for Updates while in range of WI-fi (ideally). The new firmware version to look out for is 3050.0000.133x.10xx and the update takes around ten minutes to apply (be patient), involving not one but two reboots.
I've tried various test shots but other than slightly better colouration and slightly more sharpening it's hard to demonstrate clearly what the 'imaging enhancements' are.
On the camera front, it's also worth noting that improvements to the hardware oversampling and to colour tone handling are apparently coming in the Nokia Lumia Black firmware update in the coming months, along with faster application startup.
Comments welcome if you've updated and if you can notice improvements, in imaging or elsewhere in behaviour.