In my case, it also said “up to date” when I tapped the Bridge icon on the LCD display.
I ran the mConnectHD app on my iPad and went to Device Settings, then Bridge. Lo and behold, a notification appeared saying there was an update available, and if I’d like to install it. I sure would!
I was playing a song from my NAS while the Bridge was updating. It said so on the top of the LCD display.
About a minute later, my DS switched itself off, came back on again. The Bridge icon on the LCD display turned from red to green in about 20 seconds.
Now a quick version check.
Yep. That’s the correct Bridge version @Paul mentioned in his post above.
The mConnectHD app was still running on my iPad, so I first played the three PS Audio Bitperfect Test Files.
Since they all passed, I tried playing several files, also from the mConnectHD app.
Playback was quick and snappy. Album art was indeed showing up. Even when I tapped on different songs, there was no delay. What I tapped played right away.
I’ll be testing this further with MQA and report back. In the meantime, everything looks good. I’m happy with the new Bridge firmware. 
Thanks to @Paul and his team!