Like Bigfoot, the Android 4.2.2 had been rumored to exist but no one had any definite proof. That has changed recently, as Android 4.2.2 has been found running on a Samsung Galaxy Nexus. This adds to other instances showing Android 4.2.2 in the wild running on a Nexus 4.
iDigitalTimes has reported that the update has been pushed to Google employees with Nexus devices, which includes the Nexus 4, Nexus 7, and Nexus 10. They are running Android 4.2.2 for testing purposes before the official release. Many media outlets are reporting that the update is set to roll out in the next couple of weeks.
This update is an incremental upgrade. No major changes are expected from this update other than some bug fixes, performance enhancements, and a possible Bluetooth fix. The most important fix I am hoping for is the Bluetooth streaming issue, which Google reps have announced would be fixed in the next release. Others are also suggesting that this update will get everything aligned for the upgrade to Android 5.0 Key Lime Pie, with the likely unveiling taking place during Google I/O May 2013.
We've got our eyes out for a changelog and anecdotal information on performance and stability improvements. As soon as we hear something, we'll be sure to pass it right along.