Update: The word on the street is that this update should be hitting devices today. Hit Settings > About phone > System updates to see if it's available on your device.

An update to the support docs for the Droid RAZR/MAXX just hit hit Verizon's site with details of an upcoming OTA update that should be hitting the airwaves sometime soon. While this doesn't bring Android 4.0 to Moto's newest flagship, it does bring a handful of other useful fixes and tweaks:

Applications:
+  Mobile Hotspot will now successfully allow other devices to connect to all
Internet websites.
+  Improvements in the Mobile Hotspot security.
+  VZ Navigator® has been updated with the latest 3D map improvements.
+  Visual Voice Mail Updates:
  •  Visual Voice Mail messages can be marked as read.
  •  Visual Voice Mail message playback resumes when audio is switched
to speaker.
  •  Visual Voice Mail will successfully subscribe or unsubscribe while
connected with Wi-Fi.
  •  Successfully press back key after playback in Visual Voice Mail
without error.
+  V CAST App now comes preloaded.
+  MotoCast installation steps have been improved for easier use.
Data Connectivity:
+  Improved stability of data connectivity after Airplane Mode is disabled.
+ Improved data throughput performance in low-signal 4G environments.
Device Operation:
+  Improved Battery life when using Phone Book Access Profile (PBAP)
Bluetooth® headsets.
+  Successfully save multimedia ringtones.
+  Favorite Contacts widget has been updated.
+  Improved device stability when moving between home screen panels.
+  Email icon has been updated for improved visibility.
+  When performing an Over the Air (OTA) update, the display will correctly
show the remaining download time.
+  CMAS (Commercial Mobile Alert Service) feature has been added.

While there's no official word when we can expect this update to start hitting devices, it generally happens about a week after we see the support docs land on Big Red's site. As always, we'll let you know when it's available!

[Verizon; Thanks, Kris!]