According to David Schuster, Senior Director of Software Product Management at Motorola Mobility, he did mention that the device is still undergoing a soak test – that is, a limited release so that users lucky enough to get it will be able to share their feedback as well as allow Verizon to catch any bugs and fix them before a proper roll out. Schuster continued that they will “monitor it for a few days and, with good results, proceed to full deployment.”
Regular users seem to have confirmed that they have already started to receive the update, and if you have not yet gotten yours, you can always perform a manual check by heading to Settings -> System update -> Check for system update. Of course, this has started to happen right at the end of last month, so I suppose Schuster is being really careful with his statement as not to raise any false hopes or flags.