After doing a full backup of my phone in CWM I installed the update from the .zip file in CWM. It took 7-10 minutes but then completed and I rebooted. The update breaks root. I haven't rerooted yet but attempts to return to the recovery mode (holding power + up + down volume buttons, then choosing "recovery mode" with volume buttons and selecting with power button) results in an icon of an android with his belly open and a red triangle icon with an exclamation point in it. My phone does boot normally though; it's just attempting to go to CWM recovery mode that gives me issue, again because this update breaks root.
**Update** I re-flashed twrp-toroplus-2.1.2-SPRINT.img and got into recovery mode immediately afterwards (without rebooting after the flash). From there I "installed from .zip" the CWM-SuperSU-v0.92.zip file. I'm now rooted once again on the new FG01 update.
I've linked to the update file I pulled from /cache prior to updating - though if you're not rooted I'm not sure how you'll be able to install this.