It's firmware update time, and this time it's for Samsung Galaxy Gear owners, with the update taking them to version V700XXUCOA2 (PHN) Tizen 188.8.131.52. Apparently there are no notable changes in this release, so it's most likely aimed at performance and bugfixes. The update is only 3Mb.
To manually check for a firmware update, do the following:
Did you get an update? It is a country by country roll-out, so it might take its time getting to you.
Thanks for the tip henklbr