A massive update is in the works for the PlayStation and Xbox versions of Minecraft, and Mojang has just shared the details. Mojang has split up the change-log according to platform, but from what I can see, most of the new additions and fixes are the same regardless of what system you're playing on. Below is the complete change log for the new update, the version number differing according to your platform.
New Items:
- Armor Stand, Raw Rabbit, Cooked Rabbit, Rabbit Stew, Raw Mutton, Cooked Mutton, Rabbit’s Foot, Rabbit Hide, Potion of Leaping, Potion of Water Breathing, Salmon, Cooked Salmon, Clownfish, Pufferfish, Blue Orchid, Allium, Azure Bluet, Tulips, Oxeye Daisy, Sunflower, Lilac, Poppy (replaces Rose), Rose Bush, Peony, Double Tall Grass, Large Ferns, Prismarine Crystals, Prismarine Shard.
- Creative Mode only – Rabbit Spawn Egg, Endermite Spawn Egg, and Guardian Spawn Egg.
New Blocks:
- Podzol, Granite, Polished Granite, Andesite, Polished Andesite, Diorite, Polished Diorite, Prismarine, Dark Prismarine, Prismarine Bricks, Red Sand, Red Sandstone, Smooth Red Sandstone, Chiseled Red Sandstone, Red Sandstone Stairs, Sea Lanterns, Wet Sponge, Slime Blocks, Coarse Dirt, Packed Ice, Acacia Saplings, Dark Oak Saplings.
New Mobs:
- Endermite, Guardian, Elder Guardian, Rabbit, Chicken Jockey.
New Biomes:
- Mesa, Mega Taiga, Roofed Forest, Birch Forest, Forest, Savanna, Extreme Hills+, Deep Ocean, Snowless Taiga, 20 new Technical Biomes.
Updated Features:
Fishing
- Fishing now has particle effects – bubbles will show up moving towards the bobber just before the player has something on the hook. This has the appearance of a fish swimming towards the hook.
- Treasure can now be caught while fishing.
- Treasure is split into 3 categories:-
- Fish: Raw Fish, Salmon, Clownfish and Pufferfish.
- Treasure: Enchanted Fishing Rod, Enchanted Bow, Enchanted Book, Name Tag, Tripwire Hook, Lily Pad and Saddle.
- Junk: damaged Fishing Rod, Water Bottle, Rotten Flesh, String, Leather, Bowl, Stick, Bone, Tripwire Hook, Ink Sacs and damaged Leather Boots.
Enchanting
- Enchanting now consumes Lapis Lazuli.
- Enchanting has been rebalanced.
- Enchanted Books can receive multiple enchants at once.
Villagers
- Villagers have additional professions and trading schemes.
- Villagers will now harvest crops.
- Villagers will only breed when willing (and can be made willing by giving them 3 bread, 12 carrots or 12 potatoes).
- Villagers will turn into Witches when struck by lightning.
Nether Portal
- New Nether Portal building rules: Any rectangular shape from 4×5 to 23×23
- If the portal in the nether is big enough, Ghasts can travel through.
- Will now be activated by any fire block within the frame.
Dispenser
- Can place Pumpkins or Wither Skeleton Skulls to spawn Golems and Withers.
- Will only place them if the body of the Golem or Wither is already built, in a valid configuration.
Anvil
- Anvil has been rebalanced.
Crafting
- Moss Stone, Mossy Stone Bricks and Chiseled Stone Bricks are now obtainable via crafting.
Furnace
- Cracked Stone Bricks and Sponge are now obtainable via smelting.
- When a Furnace runs out of fuel, the smelting progress will rewind at 2× speed.
- Empty Furnaces will only accept fuel and empty Buckets in the fuel slot.
Item Frame
- Item Frames now emit a Redstone signal, and can rotate in 8 directions.
Redstone Comparator
- Can now detect the rotation of an item in an item frame and output an equivalent power signal.
Button
- Buttons can now be placed on the top and bottom of blocks.
Powered Activator Rail
- Powered Activator rails now dismount entities riding Minecarts.
Cauldron
- Cauldrons with water in them will put out burning entities, taking away one water level each time.
Huge Mushroom Block
- When harvested with Silk Touch enchantment, they drop blocks with corresponding Mushroom texture (red or brown) on all sides, rather than the one with spores.
Sponge
- Reintroduced Sponge to Survival Mode, with new behavior and texture.
- Sponge turns into Wet Sponge when it soaks up water.
- Water particles appear around the Sponge when this happens.
- Sponge destroys water blocks from 5 blocks away in a kind of sphere.
- Sponge soaks up water, only when some water is touching it.
Sugar Cane
- Color/Shade is affected by the biome color (similar to leaves, grass and vines).
Baby Zombie
Creeper
- Can now be ignited with Flint and Steel.
Zombie Pigman
- Adult Zombie Pigmen will forgive after a short time (and lose the aggro speed boost), but will continue to attack until the player escapes their aggro distance.
Witch
- Now drink a Potion of Water Breathing, when they are trapped underwater.
- Can drop a Potion of Water Breathing upon death, as a rare drop.
Jungle Biome
- Melons can now be found in patches similar to Pumpkins.
Swamp Biome
- Spawn with Blue Orchid Flowers.
- In shallower parts, the coast is covered in staggered dirt block with Lily Pads between them.
Plains Biome
- Generates three of the new flowers – Azure Bluets, Oxeye Daises and sometimes Tulips.
- Can generate Double Tall Grass.
Extreme Hills Biome
- Snow at higher elevations.
- Gravel can replace ground cover.
- Flat valleys near sea level.
- Can generate slightly higher now.
Ocean Biome
- Contains only Gravel on the floor instead of Sand, Dirt and Gravel.
Desert Temple
- Now spawn with Stained Clay instead of Dyed Wool.
New landscape feature:
New Enchantments:
- Luck of the Sea (I-III)
- Lure (I-III)
- Depth Strider (I-III)
Changes & Bug Fixes:
- Sheep now drop Mutton when they die.
- Arrows decelerate much more quickly underwater, and extinguish if on fire.
- Most mobs can now swim.
- Skeletons flee from wolves.
- Creepers, Skeletons, Wither Skeletons and Zombies drop their heads when killed by Charged Creepers.
- Spiders no longer see players through solid blocks.
- Babies' growth can be accelerated by feeding them.
- Fix for players adding additional layers above the maximum height in Superflat.
- Added Flint and Steel and Fire Charge sound effect when igniting blocks.
- Updated audio for Cows and Mooshrooms.
- Updated audio for Minecarts.
- Created a new Tutorial World.
If for some reason you want the platform specific patch notes, which as far as I can tell are the same, check them out below: