I just installed and haven't had time to test it out, but according to the What's New statement it looks like a significant upgrade:

v1.3:

• Full optimization for Galaxy SII, support samsung TTS, improve media control, status bar, background, etc.
• Important upgrade for hyphenization & justified alignment, support full font-styles mixed with images; fix overlapped lines matter in end of chapter which has lasted for long time.
• Add "Preview with publisher formatting" button, preview books with table, inner CSS, iframe, javascript, image zoom request, etc.
• Fix book cover management error; fix book import crash bug; fix rooted phone with Add-hunter crash bug.

EDIT:
After quick review here are a few comments.

• Whole progress bar (how far through the entire book you are) is showing incorrect progress. For example, on beginning of chapter 6 of a 14 chapter book it shows Whole progress at 100%, but it should show about 30%.
• Still no two-page landscape view. No big deal for phones, but the larger the screen the more lacking this becomes. IMO the NC screen is large enough to benefit greatly from two-page landscape view.
• Never mind...
• Never mind...
• Highlighting seems to work better now. You no longer have to quickly drag the text selection handles before the dictionary window pops up. You can drag the handles at your leisure.
• Autoscrolling seriously flawed when using by pixel setting. The interface is annoying and it seemed to continuously scroll the current page over and over again. I never tried this function before, so this might have been true for earlier versions. Works fine with by line setting.