Well, I just popped the game open for a quick look around. Good news: nothing exploded. Also, the new improvements to the water visuals http://cloud.steampowered.com/ugc/504641629020911897/969AB25B76CA6422C3FCC31E6A21E096C9FA4345/
The not so good: there doesn't seem to be a way to disable the new grass shadows in the launcher. I'm hoping there's something in the ini. Also, I swear, every update makes the shadows in my game look progressively worse.

http://cloud.steampowered.com/ugc/504641629020912986/727F01CED675B5D02E5BDDB6DEC0280ECC6C2016/ on semi-distant shadows. Check out the weird circular bands on the bridge's apex there.
That's with shadows set to Medium, everything else set to Ultra, no ini tweaks whatsoever.