The Drag & Snap components enhance scrolling effects in Framer projects by introducing new functionalities. The update includes customizable transitions between Frames, with all Framer transitions now being available. Additionally, an infinite scroll option has been integrated. Users can also utilize keyboard navigation for scrolling with up and down keys, and the update addresses animation errors in specific browsers such as Mozilla or Arc. These enhancements are designed to improve user experience and interaction within Framer projects.