This update will resolve a little bug bear of mine when it comes to password expiry notification in Office 365 (or lack of). You are able to set the passwords for your users/organization to never expire using the powershell cmdlets provided for the management of Office 365. As documented here:
To disable the password expiry for your whole organization use the command:
Get-MSOLUser | Set-MsolUser -PasswordNeverExpires $true
This update for Outlook when it is released later this year will allow businesses to maintain the 90 day password expiry/complexity requirement as best practice. For more details on the scheduled August rollup update for Outlook see this article.