First off, the Script Overhaul, which I assume is what most people are interested in: Unfortunately, any further releases are still in the far distant future. However, I have (finally) started working on the Disc 2 script! No timeline, but after *checks* 9 months since the Disc 1 beta released, I have begun working again on my actual original mod project. Progress should also be smoother in the future, due to what I've been doing instead, which is a lot of setup work.
Part of this setup work has been continuing my other major project, coding my LODModS toolset, so that I don't have to keep interrupting script work with fixing bugs or creating new tool features necessary for modding. At present, I am slowly but surely going back through my tools, bugfixing, optimizing, improving, and, perhaps most importantly, documenting my code. Which is necessary, because I plan to release it at some point as an open source beta on github so that a) other people can create translations into their own languages or create other LODModS-style mods, and b) so other modders can potentially contribute features to the toolset (it's in Python), because I am spreading myself pretty thin on these projects with the time I have available (not much).
The other part of this setup work was dumping and sorting the full script into a readable state, which I finished with a couple weeks ago. This was the most important pre-editing step. With all 4 discs dumped and sorted, I won't have to stop after each disc to get things together for the next, so the process will be smoothed considerably. Like the toolset, I will make my sorting fields publicly available for modders. Also learning from disc 1, I have set everything up in such a way that I can make all my edits in a sorted spreadsheet created automatically from the script dumps and insert scripts from that, instead of the horror-show of typing all the dialogue into a Word document, editing it, then copy-pasting and formatting lines into text files. Because I really had no idea what I was doing.
So that's what I've been doing the past few months. As for the future, expect things to continue to be pretty slow. My free-time situation changed drastically this April, so I can't work on modding as much as before. My plan at the moment is to continue working simultaneously on Disc 2 and coding. I am also considering doing a story-only pass on the script and ignore random NPC dialogue entirely for the moment, rather than a full overhaul disc-by-disc. That way, the overhauled story script could be available sooner, while work then continues on the less important (and less read) incidental dialogue.
If you read all this text, then congratulations, you really are an RPG fan.