  A model proposed in 2004 using the non-Abelian discrete symmetry S3 for
understanding the flavor structure of quarks and leptons is updated, with
special focus on the quark and scalar sectors. We show how the approximate
residual symmetries of this model explain both the pattern of the quark mixing
matrix and why the recently observed particle of 126 GeV at the Large Hadron
Collider is so much like the one Higgs boson of the Standard Model. We identify
the strongest phenomenological bounds on the scalar masses of this model, and
predict a possibly observable decay b -> s tau- mu+, but not b -> s tau+ mu-.
