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Just noticed this on Versiontracker and updated to it:
NEW! Version 5.0 (Nov 2007)
Support for grayscale and color — from simple black-and-white to 32-bit color with smooth transparency
Direct import of EPS graphics — assists you in turning your Adobe Illustrator drawings into a font
Export of .vfb format fonts — for use in any font editor by Fontlab Ltd.
Transformations and filters — from Pencil to Gaussian blur
Advanced image-split algorithms — from Table to Book Smart
Direct import of most image formats, including EPS, GIF, JPG, TIF, BMP, PNG and (on Mac OS X) PDF