At long last FMC update 10.7 is available and hopefully we can start using VNAV with confidence again!
Here is a list of its features as listed in SB-737-34-1918, 27 March 2007. Remember some of these features are optional and may not reflect the configuration of your airline.
See also FMC update 10.8
*** Updated 17 Jan 2017 ***
Version 10.7 upgrade of the FMC software includes these basic changes:
1. Fly-by Hold Entries and Exits
2. Lateral Steering Overshoot Enhancements
3. UNABLE REQD NAV PERF-RNP Message Revision
4. Vertical Deviation Displayed in all Descent Phases
5. Revised Lateral ANP Calculation
6. Revised Vertical ANP Calculation
7. Waypoint Speed Constraint Enhancements
FMC U10.7 lets a flight crew record a waypoint speed limit as "AT" (with no suffix), "AT-or-BELOW" ("B" suffix), or "AT-or-ABOVE" ("A" suffix).
8. VERIFY POSITION Message Enhancements
9. RTA Accuracy Improvement
10. Geometric Path Descent:
11. LOC Update Inhibit
Version U10.7 FMC OPS has these new basic features:
1. GPS Loss Alerting
2. Leading Edge Device for Target Speed Limiting
3. VNAV Armed Before Takeoff
Version 10.7 upgrade of the FMC software has support for this optional feature:
1. Available Option 3461C739A01, "Flight Management Computer System (FMCS) - Takeoff Thrust