The broad strokes of the FCPX update have to do with incorporating better motion graphics and color grading tools directly into the NLE, while also improving performance and support for native editing of certain types of media.
Here's an excerpt from the press release that details the improvements in Apple's flagship NLE:
Final Cut Pro 10.2 lets video editors create gorgeous 3D titles with drag-and-drop ease and ships with simple templates to get started quickly, as well as cinematic templates with built-in backgrounds and animations. Users can choose from a set of text styles to customize the look of their titles with hundreds of combinations of materials, lighting and edges, and instantly convert 2D titles to 3D and see changes in real time.
Final Cut Pro 10.2 also lets editors view up to four video scopes simultaneously, for more precision when color grading, and includes improved Shape masks on any effect that can be saved as presets for quick access later. In addition, Final Cut Pro 10.2 natively supports even more video formats, including Panasonic AVC-Ultra and Sony XAVC-S, and makes working with RED RAW files faster than ever with GPU-accelerated transcoding, playback and rendering—including support for dual GPUs on Mac Pro.
You can get the full scoop by heading over to Apple's site to read the full press release. All of the updates are available today from the App Store.