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The release notes imply this only adds MXF support to FCPX, Motion and Compressor, however it is actually much broader than this. It adds MXF reading to any application on the system that uses the QuickTime APIs.
You can test this by taking an MXF file on your system (such as from an Avid_MediaFiles folder), right-clicking and choosing to open in QuickTime Player 7. This will work in any app that uses the QuickTime 7 APIs and does not require the latest version of OS X.
There are however some limitations:
This update will appear for anyone with Final Cut Pro X, Motion 5 or Compressor 4 installed on your system. If you don't have these apps and still want the MXF functionality, I recommend buying Compressor from the App Store for $50.