I registered to the forum so I could voice my complaints of this update!
Let us move the clock back to where it was. The black bar is already there - why move something off of it and use up more of the available room. I loved how the notifications worked and hated how it functions on my phone. Now both of my devices do that small black bar that I have to try multiple times to drag down to read. And, I no longer have access to the clock while I'm reading the kobo application on my kobo arc. My wife has a kobo arc as well, and unfortunately I wasn't able to tell her fast enough not to update - too late.
Please provide a fix for this, or give us a roll back option (without a factory reset). I do not like this update at all.