Two days after my K-1 II was whisked back to Melbourne, it is now in my hands. Apparently the extra step required was something to do with updating the WiFi function. A CD with the newest DCU software was included.
I haven't checked the shutter count yet. All my customised menus settings have gone of course, so I have just spent some time getting them back where I want them. The dynamic pixel shift is definitely in the menu now, so it appears they actually did something apart from pop out the "SR" badge and replace it with a "II"
Next I'll have to dial in some AF fine corrections. And maybe take some photos