Apparently (per Twitter) Jeb has released 1.1, so I'm guessing we'll need to update the server soon.
And, per the Mojang site (I'm kinda pumped about bow enchants):
Below is a list of some of the added features:
- Bow Enchantments
- Golden Apple recipe
- New language translations.
- Slightly smoothed color transitions between biomes
- Reduced brewing time to 20 seconds
- Added spawn eggs to creative (the colors of the eggs even look like the mobs)
- Added world type options (currently only super-flat and default)
- Removed collision box from ladders
- Sheep eat grass and regain their wool
Plus many bug fixes!