When will the next update be?
According to red in March - so somewhen soon
I hope there will be a feature for water colliding with blocks and a feature for smoke colliding with blocks as well, so we can build chimneys for houses and have waterfalls. The only feature I'm eagerly awaiting is railways and trains.
water colliding with blocks will be difficult, due to the nature of blocks in rising world. but you can achieve something like a river, lake, well, etc. with static water.
smoke as object would be great. until then i use a campfire, shrink it and place it at the outer opening of a chimeney. it still looks like smoke coming out.