This is a pretty big update, if you're an iPad owner. Now you can generate passwords right from within the browser (they're calling it "1Browser" now), just as if you were using the desktop app.
They've also added 'Go & Fill' bookmarks to the iPad version, which really streamlines the process of logging into websites, saving you from having to go back-and-forth between 1Browser and the Vault.
The iPhone will be receiving both of these awesome features in a later update, but for now you can still use the other new goodies: the ability to share encrypted logins (be very careful with this) and advanced search functionality.
If you want to get the update now, click here.