Android Wear 2.0, in the background, is based on Nougat 7.0. A little over a month ago, the platform saw news of an upcoming Oreo update in the form of a beta program, originally available only for LG Watch Sport. We assume that the beta version is over, because Android Oreo will be launched to Wear devices starting today.
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This news comes in accordance with a post made on Google+ by Hoi Lam, Wearables Developer Advocate at Google, in the Android Wear Developers community. There is not yet a word for when a particular device will see the update. The publication states that "time is determined by the manufacturer of each watch", so it could take a while for specific models to see it.
Changes to Oreo for Android Wear include vibration intensity settings for notifications, touch lock, support for more languages and countries, and battery saving improvements. For more details on what to expect in the update, you can check Cody's detailed coverage from the Beta version.
We have checked some of our devices, but we have not seen the update yet. If we discover that a specific device is watching it, or if we get more information as a precise version number, we will make sure to update this article.