AFAIK, a reboot is now always required.
This is meant to be due to the silo'd nature of the new upgrade method: the SEP installer caches all the files required for the new verson into a version specific folder, and swap round all pointers at reboot. None of the files used by the older version of SEP should be touched until the reboot.
This is why you'd typically see multiple folders in the "C:\Program Files (x86)\Symantec\Symantec Endpoint Protection" directory, listed with different version numbers (see screenie, taken from my test a moment ago for your LUA-related thread. This did require a reboot to complete, but did not prompt for it).
This differs from the way SEP11 worked, in that when upgrading, 11 would attempt to make immediate changes to files used by the older version of SEP, in some cases reducing the security profile until it is able to swap the remaining locked files at reboot. SEP12.1 is more secure in this way.