From telligent.com...

"Telligent, a leader in community, collaboration and social analytics software, today announced the availability of version 5.0 of Telligent Community (previously Community Server) and version 2.0 of Telligent Enterprise (previously Community Server Evolution). The latest versions of Telligent’s community and collaboration software represent the company’s ongoing commitment to innovation and enterprise collaboration."

There are so many new features that I can't really mention them all in this post, but I will highlight some of the pieces I was involved in:

Group Improvements
Groups can now be nested, contain multiple applications (multiple blogs, forums, wikis, etc), be joinless (not track membership), and now have better-formed URLs.

UI Improvements
Everything is a widget!  Drag and drop the contents and change the layout of every page in the front UI, configure individual widgets or create new ones to replace existing functionality without editing theme files, export individual pages or entire themes. 

This is really a huge release.  There is so much to talk about.  Be sure to go check it out.