Google has released a major update of Chrome OS. Google Chrome OS now gets all the new features of Chrome 20 and more.

This update is being delivered to the owners of Chromebooks and Chromebox in addition to Cr-48 laptop that was freely given away by Google.

Major changes:

Support for Google Drive
Offline support of Google Docs
Firmware update for Chromebook Series 5 550. Note: A screen with Chrome Logo and a critical update notification will show after update restarts. It will reboot by itself after firmware update completes.
Updates to Pepper Flash
Introduced redesigned UI to Cr-48 systems
Switched to open source touchpad driver on Cr-48 systems
Crash fixes

There are some known bugs but the rapid update cycle ensures that these would be fixed in a couple of weeks.