Verizon Wireless is updating the Samsung Galaxy Note II to Android 4.1.2 Jelly Bean.
The Android OS updated to version 4.1.2 – including several Google security patches. Android Jelly Bean 4.1 offers a better keyboard and is faster/smoother (read features).
It is always a good idea to backup up your data before performing any update. Verizon typically starts sending its updates out very slowly and then increases it over time.