The GoPro HERO4 Black and HERO4 Silver now supports a number of high framerate options including a whopping 240fps at 720p with the latest firmware update.
HERO4 Black and HERO4 Silver
Time lapse video mode - Capture Time Lapse videos automatically—no post-production needed. Showcase a sunrise, road trip or family gathering as a short, sharable video.
30/6 burst photo - Introducing a new way to never miss a moment. Capture 30 photos in 6 seconds—perfect for longer duration fast-action activities like surfing and snowboarding.
Auto rotate - Automatically adjusts capture orientation to right-side up when the camera is mounted upside down.
Add HiLight Tags during playback - Now you can mark key moments both while recording video and playing back content on the built-in touch display to quickly find highlights for easy editing and sharing. [HERO4 Black requires LCD Touch BacPac to utilize this feature]
HERO4 Black
720p240 fps video - Record ultra high frame rate video at a staggering 240 frames per second for liquid smooth slow-motion playback
2.7K60 fps video - Capture cinematic, high-resolution 2.7K footage at an impressive 60 frames per second
Update your HERO4 today via the GoPro App on your mobile device or go to https://www.gopro.com/update/HERO4

Jon Kline
I love how many options we're getting... but it's odd to me we have ALL this resolution and framerate control but still no exposure control!
Jason
So stoked for this..updated mine instantly.
2.7k60p is going to be my new default, go to mode for my GoPros.
Robert Peak
My relationship with the Hero 4 Black is much more troublesome than it was with my Hero 3 Black.
Problems: Cannot get the preview to work on my iPod. Can get it to work on my Samsung tablet though. Also, the new icons are so TINY that I need a magnifying glass and a lot of light to be able to use them.
Advantages: 4K
It is a balancing act and so far, 4K is winning.
Ian Hylands
The post from GoPro is a little bit confusing if you don't look into the details. The Hero 4 Silver does not get the 2.7K 60 or 720p 240. Here are the details.
HERO4 Black update v02.00.00
New Modes + Features
Adds Time Lapse Video mode
Adds 720p240 video mode (Narrow FOV only)
Adds 2.7K60 video mode
Adds Auto Image Rotation
Adds 30 photos/6 seconds Burst rate
Performance Improvements
Changes Protune default video ISO to 1600
Usability Improvements
Adds Reset option for camera Wi-Fi settings
Displays Night Lapse shutter time on the camera
status screen
LCD Touch BacPac Improvements
Delivers the ability to add HiLight Tags during playback
Adds new gesture to display the last photo or video captured
Automatically locks the display after the camera goes to sleep
General Improvements + Bug Fixes
Night Lapse stability improvements
HERO4 Silver update v02.00.00
New Features
Adds Time Lapse Video mode
Adds Auto Image Rotation
Adds 30 photos/6 seconds Burst rate
Performance Improvements
Changes Protune default video ISO to 1600
Usability Improvements
Delivers the ability to add HiLight Tags during playback
Adds new gesture to display the last photo or video captured
Automatically locks the display after the camera goes to sleep
Adds Reset option for camera Wi-Fi settings
Displays Night Lapse shutter time on the camera status screen
General Improvements + Bug Fixes
Night Lapse stability improvements
BlueBomberTurbo
Of course, it's a dark, cloudy day here in the Northeast. :p
G-DOT
I am so close to buying this camera but i know soon as i do the 4+ will be out the next week lol