Palm has posted the first ROM update for the Treo 755p on Verizon. The update brings the device up to version 1.08. The update support page is pretty vague on specific details stating only:
This software update is a tune-up that improves the phone application, stability and device usability.
The update is only for use with a Verizon 755p. Palm Support says the update should take roughly around an hour to complete. The usual backups are recommended. Installers are available for all versions of Windows and a expansion card method is provided for Mac OS and other systems.