This update uses the new VPK tool so its a lot smaller (like 1000 times smaller) and doesn't have the sun flares issue that makes everything really bright. Note: you will need to remove or restore your old VPKs before adding this to avoid compatibility issues.
One of the other thing I removed was the chatroom and the network panel in the MP lobby which shows the network name.
The last thing that was removed was the names on network invites which will now display "UNKNOWN".