Just did the update on my Spectrum 2 as well, OTA showed up to date, but I plugged the phone in to the PC via usb-ethernet and used the VZW upgrade tool and sure enough, it said there was an update. Now I am VS93011A, Android version 4.0.4 and Kernel 3.0.8 just like the others have said.
Some other things of note, I was rooted before and also had used Gemini App manager to freeze some of the bloat, it appears as though the apps are still frozen, but I have lost my root. I will find out if re-rooting it is performed the same way as before.
When I was in the store exchanging my first Spectrum 2 for another due to the accelerometer suddenly failing, the clerk/tech said that it was a known problem and that LG was releasing an update to fix it. This was a day or so before the 11A update came out. Don't know if that had anything to do with or if she didn't know what she was talking about.