LG G Watch R now has Wifi

The versions shown on my LG G Watch R AFTER the upgrade enabling Wifi as accessed on the smartwatch through Settings/About are:

Android Wear: 1.3.0.2166028

Google Play Services: 7.8.99

Android OS: 5.1.1

Most functionality remains when your watch is away from your phone but connected over Wifi.

The Wifi range (how far I can be from the Wifi access point) seems to be about 80-90% that of a laptop or smartphone.