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The 1.48 release is 43 releases later than the 1.5 release (the last figure is the build number). This equates to a year or so difference in release times as there is a new release on most (but not all) weeks.
As far as I know the Kobo Glo has been supported for some time. The 2.1 release added support for the Kobo Aura HD.
In terms of getting a back-porting a feature to work on older versions, then I believe it is up to an interested user to achieve this. The full source for each Calibre release is freely available.
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