it should look like this:
Yes, they're calling it "Update Release 4" in that dialog.
You can get the update from the Autodesk's Subscription Center at
You need to have a valid log-in to get it.
The installer for full Revit is named "Autodesk_Revit_2015_R2.sfx.exe". Be particular about which one you download, and match the flavor of Revit you are updating. For example, if one has full Revit installed, the Architecture one won't do anything.
The update will only work on the initial release of Autodesk Revit 2015 (build: 20140223_1515) or Autodesk Revit 2015 Update Release 3 (build: 20140606_1530), according to its release notes (and my limited experience). If you have an update release installed besides 3, you can uninstall and install Revit 2015, then run the EXE.
Application ManagerIf you have Autodesk's app, "Application Manager" installed but don't have admin rights in Windows, it may tell you it's already installed the update. However, it doesn't actually do anything (in my experience). Even if you have an administrator account, the notices of "Application Manager" may be wrong. You really have to check Revit's "About" dialog to see what version of 2015 you are actually running. "Application Manager" is a good idea but it installs without asking the user, runs on startup, and doesn't seem to work right. It can be uninstalled after the initial Suite install.
R2 ThoughtsEveryone knows that it's best for people working on the same Revit project all to run the same version (update release) of Revit. There is no sure way to know what the side effects of not doing that are.
Autodesk claims that a productivity enhancement of R2 is "Work in perspective views, making quick adjustments without having to change views with some modeling capabilities now available in perspective views." If anyone can find that enhancement in reality, please let me know. Update: Autodesk has documented the features, including a video at http://knowledge.autodesk.com/support/revit-products/learn-explore/caas/CloudHelp/cloudhelp/2015/ENU/Revit-DocumentPresent/files/GUID-32B9E3E8-75C3-466D-A0E7-A8F377A851ED-htm.html
An interesting feature of R2 is that it comes with Dynamo installed. That's a whole new world of programmatically controlling Revit. See http://dynamobim.org