First some good news: the Verizon HTC Trophy is definitely a global CDMA/quad-band GSM phone. This has technically been known since November, but since then we have had little to no word on whether that would still be the case.
Luckily, our insider managed to snag a screen shot of the Settings --> Cellular, where you can see the "Mode selection", from there you can see the CDMA/GSM settings being available to the end user. That's a huge win for Verizon customers as this makes the Trophy the first Windows "world" Phone for the carrier, something that many had wanted to Sprint to offer with the 7 Pro (especially if it's a business device). Incidentally, we hear the phone is very fast and fluid, specifically that the 'NoDo' update gets rid of the Marketplace "scrolling lag". Schweet.
The other news is the OS is confirmed to be NoDo version 7.0.7355 via user MetalHD at ppcgeeks, who snagged a photo. That is interesting because that is not the latest NoDo build, which is 7.0.7389. But it is the same build that Samsung is reportedly loading onto some phones sent back to them (see iStartedSomething). What's the difference? No one is sure yet. But, it is worth mentioning that the Sprint 'Arrive' (aka 7 Pro) does sport the latest 7389 build.
Finally, take this with a big grain of salt, but coming from a Verizon rep who's involved with the phone, the Trophy may not see the light of day till June. Now, we don't know how much stock to put into that, but it's one of those things that if you don't see this phone by end of March as rumored, well...there's your explanation. In a way it makes sense: earlier build of the OS, phone is now "testing" with large corporate partners---that doesn't sound like "ready to launch", but it does still sound close.