Heh, it's like all software -- never done, and always adding new features whether necessary or not. Those changes were new to me too, and I haven't really digested them, but I think the frame "moulding" gets wider, as it might with larger overlaps. I agree a nice simple solid color would be more than sufficient -- but then, I usually use small profile gallery frames and may be biased.
On the old version he had a comment about allowing for overlap, the main problem being you could adjust the "mount" dimensions to make the allowance, but then you had to add the overlap to position the image from the mat edge when putting things together. The new version appears to do all that for you.