I provided an update in the lengthy thread about Master riding, so in case it gets missed I'm throwing it up in its own non-sticky thread for now. http://forums.worldofwarcraft.com/thread.html?topicId=27187849344&sid=1&pageNo=28
I have a slight update to spread to the masses. We are going to be adding a hotfix for the achievement What A Long, Strange Trip It's Been. This hotfix will make it so that obtaining the Reins of the Violet Proto-Drake will award players Master riding.
The way in which 310% will be awarded is going to be a little quirky at first, but we plan to make it a more smooth process in a future patch. For now, you will need 280% flying in order to learn to use the Violet Proto-Drake. Once you mount the drake for the first time it will teach Master riding. The only catch is that you have to dismount and mount the drake again in order for 310% speed to take effect.