Yes, Pydev 1.5.4 is out already.
The most noteworthy things done in this release were:
It's now possible to create your own template variables through Jython scripting.
A bug that could deadlock Pydev in a race condition was fixed.
Aside from that, many little things were done:
There are now actions to copy the qualified name of your current context to the clipboard and go to the matching bracket.
The wrap paragraph is now also available in the source menu (it seems many didn't know it existed), and Ctrl+2 will bring up a dialog with the available options (although it can still be completed as before -- in fact, there's a delay in bringing up the dialog so that it doesn't bother if you already know what to choose).
The hover is improved and will actually show the code related to the variable being hovered as well as a link to the definition if hovering over a method or class.
Several minor bugs and enhancements in the grammars used for Python parsing as well as in code analysis and code completion were also done.
The complete details can be seen at http://pydev.org/