The only update for the 700wx is the SMS patch that fixed issues with users not being able to send SMS to certain carriers. You need to install it if you have version 1.13, if you have version 1.14 you already have it. This update is a simple CAB file, no ROM update.
The 700w also had an update to include direct push and some enhancements, I don't have a 700w so I don't know much about it, however, you can find info on it here:
http://www.palm.com/us/support/downl...r/verizon.html