I just swapped over the sd card from my v1 TED and got an error screen with instructions on how to get the necessary file and what to do with it.
I went to the TED v2 purchase page, downloaded the "turbo-os-v1" zip file and placed the entire TBED folder within it, in the root directory of the sd card.
The new font looks taller and makes me wonder if 512 pixel-wide resolution is being used now. I can only try it on my GT at the moment.