Just a short time ago, (my birthday to be exact. ;) the fine folks who are working on
Pixel32 released some news that their product is undergoing tremendous changes.
Notably a new version 1.0 RC2 build 420 was released for the BeOS/Zeta, Linux, and Windows platforms in their members area.
Just ten days later, they reported that development of their LiveEffect engine for layers has been finished, allowing the start of development of effects such as Glow, Drop shadow, Emboss and so forth. It is expected that these effects and more will be available soon to the public and members in the form of an upcoming public demo (and downloadable full version for members only.) Check out these amazing screenshots:
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3.