What we can make out from the video the updated Explorer II has a white maxi dial with maxi hour, minute, and seconds hand. The 24-hour hand has been changed from the red shaft with arrowhead to an orange hand reminiscent of the one on the ref.1655 Explorer II. However, this time the entire hand is orange. It also appears that the Explorer II uses a supercase, but retains a Twinlock crown (I think it's the same larger Twinlock as found in the Milgauss). The bracelet and clasp look like they've been updated as well. Finally, the words "Explorer II" are written in orange on the dial to match the 24-hour hand.
I really like this watch and I'm somewhat disappointed that Rolex didn't release it this year. Rumor has it that it will be released next year. This makes sense if you consider that 2011 marks the 40th anniversary since the Explorer II was originally launched. Well, that gives me more than a year to save up for one ;-)
I applaud Rolex for their current trend of updating almost their entire lineup. Rather than just adding more diamonds to a dial or bezel as we've seen in the past, they are really making some substantial changes.
1971
2011(?)
