After connecting my Venue Pro to the Zune player to sync some media files, I was prompted to apply the February update. Turns out both the Dell Venue Pro and HTC HD7 for T-Mobile USA have began receiving official updates. It’s not the NoDo update, but it’s a start.
Estimated update time was 20 minutes but for me it was finished in about 5. I encountered no problems, and none were reported from other HD7 or Venue Pro owners on XDA so far either. So you should have little to fear from hitting the update button as soon as you see it.