This is Flowboard‘s second significant update since the app’s April launch, and like the first, brings meaty upgrades. In this case, the big news is that the app now gives you the ability to embed YouTube clips and PDFs in your digital publication, and thankfully adds a way to undo you last action.

That statement up there in the headline, that Flowboard will be “the most important free app you download this month” — that’s kind of a bold thing to say.

But it’s not hyperbole; Flowboard’s publishing tools are super-easy to use, letting you easily create electronic portfolios and presentations — heck, even magazines and eBooks — and the finished products, published on Flowboard’s site, are just as easy to share and view.

And if you rarely download anything, well, this may be the most important free app you download all year.