To update your LinkedIn status, just hit the Compose button at the top of the Home screen. From there, you'll be able to set the visibility of your post to be seen by anyone or connections only, and choose whether to publish your update to Twitter at the same time -- conveniences that are also available on the Web.
With the Home screen now completely dedicated to your stream, all of the app's navigation has been neatly tucked into a slide-out panel on the left, again making it similar to Google+. Here you get one-tap access to your profile, messages, and notifications, as well as a Home screen icon that continuously shuffles through the latest updates from your stream. But the real beauty of this navigation panel is its flexibility. With a few taps, you can customize it with shortcuts to other parts of the app, such as Groups, Companies, News, or Jobs.
If you use LinkedIn for research, then you might be disappointed to find that power features like alumni search, skill search, polls, and company insights are missing. Of course, most people won't need to access these on the go, but it's still worth mentioning that they are, as yet, unavailable. That said, with, I'm sure the company will add at least a few of these features in the near future.