Tons of changes and improvements have been made. The version numbering system has changed (1.0alpha12 => 0.9.12), the database/file system has been completely rewritten and windows builds are now being produced. I had hoped to release a beta version several months ago but, thankfully, I didn't. More features need to be implemented before I release a beta but, I hope, that won't be too far away.
It looks like I'll probably release one more alpha version before releasing beta1. The client is beta ready but the editor still has some work ahead.
The next alpha release will be a major stride towards a beta release. I am 1/2 to 2/3rds finished the database handler rewrite. I will then be free to finish up both the client and editor for Vocab Builder. I hope it won't be too long before a feature complete 1.0 Beta will be ready.
I've updated the Bazaar branch on Launchpad with the latest revision. There were some major changes to the source code. One of the most significant changes, as far as users are concerned, is the new GUI for the Manager/Editor! Once that feature is complete I will likely move Vocab Builder into beta in preparation for an actual release!
The second alpha version of Vocab Builder has been released. There are still a lot of changes yet to be made and you can view a few of them at our webpage http://vbuilder.sourceforge.net and check out the blueprints.