Release 2016.32. In this release the biggest change is the playback is now 21fps and 41fps. Before it was 16fps and 30fps.

there was nothing like a new effect, just improvements. Here is what Dan Kulp wrote:

"There isn’t really anything “new” other than the new timer implementation. However, there are a bunch of bug fixes and optimizations and such that I’d like to get out there. This SHOULD hopefully fix the display issues on the 2.1 based Intel GPU’s, it will detect the non-accelerated GDI driver and display a message telling the user to update the video drivers, it optimizes a bunch of things on the layout panel, fixes some issues where a texture from the wrong OpenGL context could get destroyed, and bunch of defensive “null pointer” checks in a bunch of places."

Latest releases are found at http://nutcracker123.com/nutcracker/releases/
Issue Tracker is found here: https://github.com/smeighan/xLights/issues

XLIGHTS/NUTCRACKER RELEASE NOTES:
---------------------------------
2016.32 May 19, 2016
-- bug (dkulp) Bug where subbuffer might not get written out correctly (and written out when not needed)
-- enh (dkulp) Optimization to not load the background image for every single mouse click on the Layout panel
-- bug (dkulp) Use atomics instead of crit section
-- bug (dkulp) Don't create the debug context by default anymore...
-- bug (dkulp) Better management of TextureID's - Fixes #576
-- bug (dkulp) Don't use the pointers for the textures
-- bug (dkulp) Use the standard timer on OSX, it works fine and no need to have the extra thread
-- enh (dkulp) Display a warning if GDI driver detected
-- enh (dkulp) Add the .1 log as well just incase the rolling stuff rolled the important lines
-- bug (dkulp) Remove some unused vars
-- enh (dkulp) Use non-shader method for smooth points on Intel
-- bug (dkulp) Fix setting transparency and black transparency
-- enh (keithsw) VideoReader ... more protection for possible divide by zero errors.
Includes logging of any problems found.
-- bug (keithsw) Make logs 1MB as originally intended. These should zip to well under 50% when sent to us.
-- bug (chrisD) Force TendrilEffect and TextEffect on foreground thread under Linux
2016.31 May 16, 2016
-- bug (dkulp) Fix for Model window not displaying
2016.30 May 16, 2016
-- enh (keithsw) PGO export for those LOR etc users that would like to use xlights to create their PGO files.
-- enh (keithsw) Add scrubbing to audio (hold control key and left mouse button on waveform)
-- bug (gil) Correction to FSEQ data layer import. Should only reset sequence data on import not on render.
-- bug (dkulp) Fix for OpenGL on Intel graphics card. Intel 2.1 has issues with POINT_SPRITE