The big difference between this and Memorial day is that Veteran's day focuses on the living, while Memorial day focuses on the dead, both in combat and in the years since.
There's nothing in particular you have to do on Veteran's Day, so don't worry overmuch.
Since 2007, the VA has been encouraging veterans to wear their awards on military holidays, including Veteran's Day. So don't be surprised if you see people wearing ribbons or medals on ordinary clothes.
(I've seen everything from mini medals on tuxedos to a biker who arrived at a friend's memorial ceremony at the last minute with a ribbon stack on his kutte.)
Several businesses offer discounts and freebies to Veterans on November 11th.
Feel free to do so as well if you wish.
If you want to extend that to active duty, military families, first responders, whatever. It's your business.
The only people who complain about the scope of thanks are the kinds of fuckknuckles who spend the day bouncing from free pancakes to free entree while leaving lousy tips. Fuck those clowns.
Don't worry about stolen valor. Just use your everyday discretion before offering thanks, discounts, alcohol, sexual favors, or related actions.
The day before Veteran's Day is the Marine Corps Birthday.
You may encounter formal events featuring mobs of energetic drunks in their finest dress blues.
Or you may encounter random gagglefucks grunting unintelligibly while performing a strange ritual involving a cake and a sword in the middle of a bar.
Do not panic. Simply avoid sudden movements, refrain from taking the seats with their backs to a wall, and give an occasional "Happy Birthday" in the direction of the scariest-looking ones.
Take care of yourselves out there.