Worked fine for me today, on my iPhone 5S. Only glitch was the first time I connected it to the P2V camera - the video display was all kinds of crazy pink & green stripes. I killed the Vision app and re-started it, and power-cycled the Phantom. No problems after that. Perhaps there was some kind of corrupted settings data - either on the phone or the camera - from having used the previous bad version?
I upgraded and it works great on my 5S. It even seemed to eliminate an issue I was having with the phone constantly disconnecting from the wifi repeater when my phantom would go out of and then come back into range.