Sharad Mangalick (product manager for Lightroom) provides a nice summary:
Camera Raw 7.1 is now available on Adobe.com and through the update mechanism in Adobe Photoshop CS6. Camera Raw 7.1 adds new Defringe controls to help address chromatic aberration. Defringe is available as part of the Lens Correction panel. Camera Raw can also now read 16-bit, 24-bit, and 32-bit HDR files. Supported HDR formats are TIFF and DNG. Photoshop CS6 customers can upgrade to Camera Raw 7.1. Customers of previous versions of Photoshop can utilize DNG Converter 7.1 for raw file support for newly added cameras.
More details about ACR 7.1 and DNG Converter 7.1 here via the Lightroom Journal.