Exactly, it act as the official client, it doesn't store players data somewhere.
Little compilation of what's were done since the last time:
Emoticons
Support @monsterbig / @monstersmall
Support for monster hp bar
Support for teleport / warp portal window (also identify and autocast skill).
Support for pet hunger bar
Add discount and overcharge (correct display)
Can now open users shop
Now supporting Party System (and friends /hi, /invite, /leave, /organize, change leader, expel, change configs, casting skill on names, everythings.).
Awesome memory optimization (can now render 5x more monsters on screen).
And a lot of bugfixes and clean up.
Maybe others things I forget through.