SH-12 blue cleats have received refinement from working with the pros. They feature a slight 2 degrees of float with a front pivot center for a higher quality float. Like the previous cleats the SH-12 have "pontoons" which make them very easy to walk in and allows the cleats to last a long time. Wear the color wears through or if the action deteriorates, it is time for replacement.
The SH-12 cleats are original equipment replacement cleats on the Dura-Ace pedals and will work for all of the newer style, three-hole SPD-SL series pedals from Shimano. They are sold in pairs and includes all of the mounting hardware and screws needed for one pair of pedals/shoes.
In case you are interested, the blue color indicates that they offer 2 degrees of float, yellow is 6 degree and red is fixed or no float.