It's IT 101, you put out a buggy update you restore and roll it back until you have a fully tested update. Did Verizon gut their QA dept.?
I had issues with the late January update and had to use another SMS app for a while. Since then I always check the play store reviews to see if anyone is having issues with a update. Fortunately I saw all of the bad reviews for this update, and didn't update. So I'll be waiting until they have their act together before updating again.