The update, due August 28, adjusts the camera in online multiplayer, and gives you ten new "Championship Mode" stages for free! Seven more Championship Mode packs will be out soon after, each adding ten stages. These stages all give you 50 lives to start instead of five, because they're apparently even harder than the brutal game. Two more unspecified DLC packs are also planned for September.
Each Championship Mode update costs $1.99/€1.99, unless you're a PlayStation Plus member. For two weeks after the update, both Spelunker HD and the DLC will be sold at half price ($5 for the game, $1 for each DLC pack) for Plus.