1.5 update | Support | Forum

Dalferes said
I also want to add that if you do update by accident, there are ways around it to revert back to the previous update.  All hope is not lost if you so happen to update.

Frell and I are actively working toward the next upgrade cycle. However, you should not update until VC updates. If you play on other more "bleeding edge" servers, you should at least make sure to backup your 1.4.7 version or use a multi-launch tool like MultiMC or MagicLauncher.

How long will it take for VC to update after 1.5 is release? That all depends on Bukkit and its plugin developers. Most developers don't get off their butts until Bukkit releases a beta version unless their users really start bitching. Then again, some are very proactive and work closely with Bukkit's bleeding edge branches. Likewise, the Bukkit team does do update work before the official release, but the bulk of it will happen afterwards. This means, that we not only have to wait for Bukkit to put our a beta version (or stable development release), but we have to wait for our plugin developers to make necessary changes, if any.

The short answer to the above question - it can take as little as a couple of days to as long as a couple of weeks, but we won't know for sure until we cross that bridge.