As of now only data works but you can't receive or send out messages,make calls etc.
When connected to H+ everything works flawlessly and the carrier shows, when connected to LTE only data works nothing else and the phone can't identify what carrier is being used.
Sent from my HTC6525LVW using Tapatalk
The issue seems to be that Verizon by default is locking the GSM radio. Users are reporting the same in the Moto X and Droid Ultra forum. Users using 4.4.2 on T-Mobile with a Verizon device.