Virtuemart 1.1.6 and Virtuemart 1.5 beta
The Virtuemart team has released two new versions! Virtuemart 1.1.6 is a bug fix release which fixes many long standing bugs. It also introduces some bugs, that could potentially disable your site. So only upgrade to Virtuemart 1.1.6 is you have time to backup, test and fix your site before you put it online. There are already 11 bugs reported for Virtuemart 1.1.7, so it is not a strange idea to wait for that version.
cciDEAL for Virtuemart users that want to upgrade to Virtuemart 1.1.6, can read more about cciDEAL 2.2.4 in this blog post.
Virtuemart 1.5 Beta, is a non-stable first release of the new Virtuemart version that is rewritten in Joomla! MVC style. It does not add any new features, but should make VM a lot more stable and easy to develop and improve on in the future.