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Your Icon will continue to have "Black" even if you get 8.1 and 8.1.1 through the developer program. Cyan will only come down once Verizon approves it.
I don't believe there is any "awesome update" that you can do other than the Developer Preview program. i.e. it's not like Android where you can load custom ROMs. So if you can get it to update with 8.1.1 (which should happen automatically if you're enrolled in the DP) you should have all the functionality that's currently available -- minus firmware improvements from Cyan, and eventually, Denim.
