Android Launcher app icon not updated to new icon after market update
The app in the app launcher (drawer) should be updated, but the shortcuts won't be updated until the next refresh of the homescreen. There isn't much you can do that unfortunately, but the homescreen does refresh itself once in a while, so the new icon will eventually replace the old icon automatically.
Same Problem !! did you check after clear cache or reboot your device
After clear caches my problem is Gone
Try
Setting -> Apps -> All -> yourApp - > Clear Cache
if not updated Than Reboot Device
Check this link - Android application name and icon doesn't change until phone is rebooted (after application update)
I had the same problems and tried different approaches (one was trying to remove programatically the launcher screen's icon and the add the new one; I was able to add the new one but couldn't remove the old one; android:duplicate doesn't replace the old one only avoids to add the new icon and if trying to remove and I as far as I've researched so far was removed starting with ICS).But my conclusion is that there's an Android issue and you can find it posted here: https://code.google.com/p/android/issues/detail?id=54546