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Apps
Google Play is full of Android Wear apps now, it's just as well populated as the Apple Watch app store. There are big names such as Whatsapp, Endomondo, Tinder, IFTTT, to name a few. But the quality varies dramatically, some are ugly, some don't work on certain watches, and surprisingly, some are pretty decent. In that respect, Android Wear still lags behind the Apple Watch in terms of top quality, big name apps. However, if you need to do something on Android Wear, there's probably an app for it.
Android Wear does come with some preinstalled apps from Google, including a calendar, Hangouts, Maps, and Google Fit. All work well, exactly how you'd expect.
Tag Heuer has also designed some apps for the Connected, these are mostly timing apps, such as an alarm, stopwatch and timer. Functionality is pretty basic, but they are very attractive applications and a pleasure to use.
Compatibility
Naturally, as the Tag Heuer Connected runs Android Wear, it's compatible with all Android smartphones. But as it runs the latest version of the operating system, it's also compatible with iOS devices running iOS 8.2 or higher.
However, iOS compatibility is currently limiting - you certainly don't get the full smartwatch experience. You do get notifications from your iPhone, including texts, Facebook notifications, reminders and calendar alerts. But you won't be able to interact with these notifications. For example, you can read a text, but you won't be able to reply to it.
In short, the Tag Heuer Connected works with both Android phones and iPhones, but if you are an iPhone user, it's no Apple Watch replacement.
Deeper iOS integration may come in the future, but only if Apple makes changes to its APIs. Of course, that may never happen, especially considering Apple will want to sell as many Watches as possible.