Short answer no. The latest stable verision of orbiter is 060929.
Long answer: martins, artlav and many other(sorry I don't remember your names) leading community members have been working on a new version project called Orbiter Visualization Project or OVP.
OVP forum:
http://www.orbiter-forum.com/forumdisplay.php?f=50
I do not recomend downloading it if you're just looking to test out the new features, its still buggy but its comeing along nicely.
If you want to beta test, the latest beta is avalable to the public but please provide feedback.
Major Difference In this new version will be the seperation of the graphics and physics engine which will alow OpenGl2.0 and DirectX9, as well as integerated 3D terain, multilight, and a whole slew of other things.
Hope that answered your question.
N72.75