The entry claims a version of 3.8, but the link in entry (and when you use the app) downloads 3.5.2
This is a link for the later 3.8 version:
http://dl.google.com/photos/picasamac38.dmg

version 3.8.0.240:
Added Face Movie to create face-aligned movies for named contacts.
Added Batch Upload (via Tools > Batch Upload) to allow you to take bulk actions on your photos: upload, change options, and remove online photos.
Added Picnik online photo-editing to the Basic Fixes tab.
Added Color Management to support color profiles.
Added the Properties panel to view EXIF data and improve support for XMP metadata.
Added support for uploading photo order to Picasa Web for manually re-ordered photos.
Added an option to upload people album thumbnails to Google Contacts.

Added name tags in the Picasa software.
Improved geotagging: You can now geotag in Picasa using Google Maps in the 'Places' tab.
Improved keyword tagging:
New 'Tags' tab for easier tag management.
New Quick Tag buttons to make tagging easier.
Import changes
Added the ability to upload and share while importing.
Added the ability to add stars and upload only starred images during the import process.
Added the ability to modify the date and time on pictures. 'Tools > Adjust date and time.'
The Sharpen slider is now more responsive.

Note that this is an English release only.

• Fixed an issue where applying the 'Retouch' edit created a 0kb new file.
• Fixed an issue where Picasa for Mac caused very high CPU usage for some users.
• Various crash fixes.

Version 3.0.4.434 release notes not available at developer site nor in download at the time of this posting

release notes not available at developer site nor in download at the time of this posting