The graphics update is definitely going to make characters look different. I think it's an improvement overall, though---the characters, though they look different, also look more like living beings. The best thing they can do, in my opinion, is give everyone a fantasia with the update.

On the limbal rings, specifically: my prediction is that limbal rings that are white or almost white (on the color selector) will stay mostly the same (on the character) before and after the graphics update. Meanwhile, limbal rings of darker and more saturated colors (on the color selector) will change (on the character) to look more like the color shown on the color selector. Right now, a lot of limbal ring colors look near-white on the character (especially yellows and oranges) even if they look saturated on the color selector. Effectively, players have been without the option to give their au ra characters rich yellow and orange limbal rings, and now we might finally be getting that option. Admittedly, it's an optimistic prediction, but it's the choice that makes the most sense to me.

In general, it seems like characters' eyes are getting the riskiest changes. It's most obvious with au ra, but the eyes of other races look different too. They look good, when considered on their own, but they all seem to have changed color (compared to the before picture) in some noticeable way. Some that look light in the "before" pictures look dark in the "after" pictures, and some seem to have changed the other way, going from dark to light. Some seem more muted and others seem to have more intense colors. Even I think it's a bit concerning...the apparent randomness is what bugs me, more than anything.