New Facebook App Update Not Working
Edit: this seems to be a problem that Facebook are aware of. It's a concern with the Facebook application, and also not a generalised Play Shop issue.
This is what worked for me at least.
- Settings > Applications > All > Google Play Store, Clear information as well as Clear cache
- Settings > Applications > All > Google Play Solutions > Manage area, Clear all data and Clear cache
It does not injured if you restart your phone before you attempt upgrading facebook again. And, the set up was SLOW. Just at least 4-5 minutes. However, it did work. If not try to uninstall it, or simply wait on a solution.