Got several bug fixes, and some new features. There is now a material editor, which I JUST realized it still says in the "new" dialog that it's not implemented, but click it anyway, it's there! There are also new tools in the right click menus of the file view:
o Make a VTF and VMT for models
o Make a VTF and VMT for brushes
o Several SMD manipulation tools
Well worth popping over and picking up a copy