Sadly no news on the planned graphical update, as the merger with GAE seems on hold, but the new version adds a lot of nice usability enhancements.
Much more active on the graphics front is 0 A.D. on the other hand. In their recent development update #9 they talk about completely switching to their new shader based renderer, and the guy behind these renderer improvements recently gave a short interview too.
Some other interesting news include this recent forum posts of some modders trying to switch to the 0 A.D. engine for their modern warfare RTS called Rogue Republic.
Asset integration seems to work already as you can see here:
|Rogue Republic assets in O A.D.|
The thread over at the 0 A.D. forums has a few additional details, but no significant info on the FOSS status they are aiming at in regards to their media.
Never the less, it looks like it might become a RTS project to follow more closely.