Red51, you've really outdone yourself here. I'm glad you chose the beta route to keep things nice and clean until issues are sorted; Floasting ores, water update stuck at spawn, and the whole cotton & Hemp not being coded in. With all the error logs it was right of you to go beta route, something you'll have to replicate for future updates.
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Picking the changelog apart there are things I have yet to poke at, yet the things I'm aware of I'll note.
> [New] A marker will be created on your map upon death (showing the location of your dead body)
That one was a real pain in the rear that we tried to get Red51 to add in death markers on compasses and such. I'm glad you can make another map to find out where you've died. It's a step in the right direction. Not being able to know where you've died made me less likely to travel far, unless a road was built vaguely in that direction.
> [New] Added command "size" to set the size of a construction element manually
Handy. I may end up using this depending on how things go. I guess I may have requested it, or others. Needs testing. It's handy for when you need repetition for fence making, and such. Preset sizes, and such.
> [New] When placing a construction element you'll see the texture id of the element you're currently looking at
Oh, how I wanted this so I could stop making signs on walls noting what ID I've used.
> [Change] Increased walk and sprint speed
This one was a real pain in the rear. I'm glad Red51 tweaked this, something I need to test out. With how you sprinted it was too slow. Took too long. Walking is fine, yet running.... Running is speed walking, yet slowly. (Need to test this out).
> [Change] Reduced memory consumption
> [Change] Improved world generation speed, especially in cases where lots of lights were used
Curious to see how this impacts performance. This should come in handy for when we walks & run. More so for when horses, trains, and such are introduced into the game. I'll be needing to test this out.
> [Change] Elements can now be placed on other objects (e.g. furniture)
This one has always bugged me when trying to make makeshift picture frames, or whichever. Now we can happily make whatever on there.
> [Change] Increased minimum spawn rate of acacia saplings
This helps! I want to see how exactly, yet glad it's been boosted slightly with how it couldn't self-sustain itself in tree farms.
> [Change] Animals now run away from nearby gunshots or explosions
Clever! Some immersion! More! More! I find this hilarious because it 1-ups Minecraft when you hit animals with a sword that they run away a bit then give up.
> [Change] You can now also place ores in the furnace by holding your mouse button (faster loading)
> [Change] You can also keep your interaction key pressed to pickup items from a furnace (faster unloading)
People complained about it being too tedious. Arthritis and such that it helps them out. Just as long as you keep the whole manual feel this stays awesome.
> [Change] Ore orientation has small variation now when placing in furnace
Ooo! More immersive additions! This is like how the ores tend to change shapes and styles each time you jump into your world.
> [Bugfix] Saloon doors finally work properly now
Yatta!~ About time! With how they've trapped you I feel they're more like jail doors, yet that can change back to something more peaceful. Thanks Red51! 
> [Bugfix] Grid (G) is now displayed correctly on construction elements
Sweet! No more hellish grid placements! That one gaming session really soured my gaming experience that I'm glad it's now back to normal. 
> [Bugfix] Fixed "chatnamecolor" in permissions
> [Bugfix] Fixed issue on mp servers when "settings_admins_allpermissions" was set to false
I'm curious about this one seeing as how I had issues with them.
> [New] Added API support for custom sounds (see API changelog)
Upon hearing an elaboration on it you can do whatever you want with it. Have it play, triggered, and etc. From soundeffects to music..... This is awesome! I shall be making a nice 'Sbaratang Concert Hall' (based on a Japanese violin anime figure) to play my own music in that concert hall. Google up Sharatang (Shinki SHaratang) then you'll see where I'm going with this. I've wanted to do this in Minecraft, now being able to do so in Rising World. Shweet!
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Excellent! You've really done a nice job here. More so behind the scenes with bug fixes that it shall be neat finally playing it during my "tomorrow" (Friday) onwards. Makes me happy to see many things tackled.
Now, I see I have a new major project to taclke that relates to sound API that I now want to tackle that 'Sharatang Concert Hall' project to allow for my own music to play in that concert hall. Maybe other people's music as well. This is awesome!