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I've read elsewhere that having the T-Mobile Name ID app disabled is the cause of the dialer contact photo problem.
I re-enabled T-Mobile Name ID, cleared data for it as well as Contacts and Contact Storage, allowed the phone to re-sync all my contacts, and I still get the orange calling screen instead of the contact photo. Not sure what else to try short of factory resetting, which I'm not going to do over something so trivial. Blah.
I only did the update yesterday, though. So maybe the "wait a few days for them to show up" route is the one I should take for now.
Edit: I just installed QuiCall Dialer, and it's pretty neat. Also gives me the contact photo. :)