In the app you go to settings, scroll all the way down to feed and then I believe you can select most recent. As soon as the app updated yesterday I checked it out and hated the update so I rolled mine back. Here is what I did to roll it back, do this at your own discretion. I googled the site where the link is located and couldn't find anything on it (good or bad) as far as reviews go so I took the gamble and so far no issues but again do this at your own risk.
1. delete Facebook app by going to settings, applications tab, application manager, scroll down to Facebook and select it, then Uninstall.
2. go to settings, general tab, security, scroll down to device administration section and check the box for unknown sources (window will pop up and select ok).
3. on your phone go to this website
http://www.androiddrawer.com/.../download-facebook-7-0-0.../ once it loads there will be a pop up, just touch the pop up in the top right corner where the ‘X’ should be but for some reason it’s not visible. Now scroll down to where you see “download this version” (should have a green background behind it). It will begin to download.
4. when it has finished downloading you should see a notification, if you do not then click on ‘my files’ app and then you should see a download history listing, click on that and you will see the file you downloaded. Click on that file, scroll to the bottom of the page and then ‘install’ will appear at the bottom. This will reinstall the app but it does not create a shortcut so you will have to go into the apps section (bunch of squares as the icon) and you will find Facebook in there and you will be able to drag it to one of your home pages. When you launch FaceBook you will have to enter your username and info as if it’s the first time it was ever installed on your phone.
5. go back into settings, general tab, security, scroll down to device administration section and uncheck the box for unknown sources. You do not want to leave this on.