Features added:
- You can now change the post colorization of a layer using swatches or a color picker.

- In the transformer layer panel a knob has been added that allows for manipulating the field of view of a layer.

- In the option tab of the main layer interface added a check box has been added that allows you to connect or disconnect the fading of audio with the opacity of the layer.

- Added support for media created in Flash using the .swf format (which was dropped from Quicktime).

- Changed the maximum size of multi-output windows to unlimited.

- Added an option to reset the window locations in multi-output mode and the ability to save the positions of windows in multi-output mode.

- Added a new module to trigger media by name.

- Added new keywords on the module system :
"info_media_names" (read only) Allows you to access the name of your media.
"info_media_pathsAndNames" (read only) Allows you to access the file path of your media.
"direct_media_change" (Write only) Load a new media in the the media set.
"set_direct_layer_media_stepFrame" Increment a movie clips frame.

Fixes:
- Fixed module serialization in the project
manager when the project is saved.

- Fixed problem when a big movie file (i.e. a 1 gigabyte file) fails to preload.

- Fixed sound disappearing when slowing down/fading out/in
a movie.

- Fixed a problem where module windows would drift from under the cursor
when moved using a Wacom tablet.

- Fixed a problem of incorrect resizing of the media window when rendering
is heavily loaded.

- Fixed Preview pane positions not being saved when entering/leaving full
screen mode or advanced output mode.

- Fixed a problem when using large image files.

- Fixed a problems with multi-output mode (white images).

- Fixed possible crashes and problems on with logical record rendering and playing system.

- Fixed a possible crash with load/unload of movies when free memory is low.

- Fixed a possible crash with big movie and large image file.

- Fixed a possible crash problem on some keywords when a wrong value is
used with the setValue on the Module system.

- Fixed a problem of incorrect resizing of the media set window and info mode.

- Fixed a problem with the module parameter serialization in project files.

- Fixed problems with sound latency / stopping.

- Fixed a problem with keyboard mapping and different languages in Mac OS X 10.5 Leopard.

- Fixed a problem with midi mapping by position and toggle button.

- Fixed a possible performance problem when hiding movies and changing the layer set.

- Fixed a minor problem with modules windows drifting when moved with a Wacom tablet

- Fixed a minor problem with resetting window locations when the preview ratio is not set to 4/3.

- Fixed a minor problem with the master invert, add color and wide output ratio.

current version is 2.5.4, not sure of release date or url, but I am an active user of Modul8