With the recent release of Verizon’s OTA update many are receiving the “nag” message encouraging them to update their phones. If you are rooted you should not apply the update. From what I’ve been reading, applying the update will cause you to lose root.
Most custom ROMs have already had this update (or a leaked version) included in their ROM for a while, so if you’re using the latest version a ROM (like Virtuous), you probably aren’t seeing any update message.
However, if you are running a stock, rooted Incredible, you are definitely seeing the message. Thankfully, Bob Denny has put together a guide for updating a stock DINC with the November OTA without losing root or having to wipe.
Do not follow this guide if you’re using a custom ROM!