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Craig Eisler of the Kinect for Windows team has the latest. For me, the most interesting new features are tracking for the seated skeleton and Near Mode, which brings Kinect into the sphere of productivity applications:

• Seated Skeletal Tracking is now available. This tracks a 10-joint head/shoulders/arms skeleton, ignoring the leg and hip joints. It is not restricted to seated positions; it also tracks head/shoulders/arms when a person is standing. This makes it possible to create applications that are optimized for seated scenarios (such as office work with productivity software or interacting with 3D data) or standing scenarios in which the lower body isn’t visible to the sensor (such as interacting with a kiosk or when navigating through MRI data in an operating room).
• Skeletal Tracking is supported in Near Mode, including both Default and Seated tracking modes. This allows businesses and developers to create applications that track skeletal movement at closer proximity, like when the end user is sitting at a desk or needs to stand close to an interactive display.

This release has lots of other neat features:

• Kinect Studio, our new tool which allows developers to record and play back Kinect data, dramatically shortening and simplifying the development lifecycle of a Kinect application. Now a developer writing a Kinect for Windows application can record clips of users in the application’s target environment and then replay those clips at a later time for testing and further development.A set of Human Interface Guidelines (HIG) to guide developers on best practices for the creation of Natural User Interfaces using Kinect.
• The Face Tracking SDK, which provides a real-time 3D mesh of facial features—tracking the head position, location of eyebrows, shape of the mouth, etc.
• Significant sample code additions and improvements.  There are many new samples in both C++ and C#, plus a “Basics” series of samples with language coverage in C++, C#, and Visual Basic.
• SDK documentation improvements, including new resources as well as migration of documentation to MSDN for easier discoverability and real-time updates.

And more. Go grab yourself a copy: Kinect for Windows SDK.

Kinect for Windows: SDK and Runtime version 1.5 Released