no one really know what it will be about exactly, but what we are sure of is that it will be a continuance of penguin 1,
while some of us hoped that it will be a repair update, that will fix some issues brought with penguin 1, they will be disappointed.
what we think that the new penguin 2.0 will focus on content and keywords again and some other linking strategies that was not covered by the first penguin like links from directories, and linkwheels.
But will also may check on any repairing you have made, for example if you have removed any bad backlinks since the first update.
my tip to you is that:
make more effort on writing original high quality content, and write for people not search engine, you cannot trick Google with optimizing your content anymore. so just write content that people will like.
make your website readable, and so easy to access the content and navigation, reduce animation and advertizements, especially from the header.
Still you need quality and quantity of backlinks, you need to stop the old fashion of link building strategies. start using your common since. any easy way to get backlink must be suspicious to you.
maybe its time to start outsourcing, find or hire someone to help you in your link building. some link building service do adjust fast to any Google update, and i think it's a good time to use some of those services to get some high quality backlinks.
here are 2 articles i found interesting about the topic
Penguin 2.0 New Google Update September 2012