YOU STILL NEED TO CONFIRM TRANSFERS
The only thing is now you only have to do it once to the place the domain is going to be transferred to instead of twice like you were supposed to have to do previously.
This is just so the registrars who would make it virtually impossible to release your domains cannot do that anymore.
If I try to initiate a transfer for any domain tomorrow the registered owner will receive and email from MY REGISTRAR asking to confirm the transfer, if he or she does not confirm it then I will not get the domain transferred. It used to take an email from both my registrar and the other parties registrar but alot of the time the registrar that is loosing the domain will not send out the confirmation email so they get to keep the domain for future renewals...this stops that from happening.
it would be better to make sure all of your emails on your registered owner and administrative contacts are valid and belong to you still rather then locking your domains.
Just thought I would shed some light on this even though it has been said before here.