Video Output:
XP machine will now use DirectX mode by default, like in previous versions. There were too many errors with broken drivers.
More accurate colourspaces conversions for YUV->RGB in OpenGL
Add menu support for libvlc / VLCKit applications on Mac OS X
Various fixes on Mac OS X, notably for crop, zoom, osd and menu support
Misc fixes in OpenGL module, on all platforms
Fix video output on PowerPC-based Macs equipped with an ATI Radeon 7500, an ATI Radeon 9200 or a NVIDIA GeForceFX 5200 Ultra.
Fix video output of 10bit encoded contents on Intel-based Macs equipped with an Intel GMA 950 chipset running OS X 10.6 or later.
Add support for the HiDPI mode used on recent Apple products with so-called Retina Displays.

Access:
Rework Digital TV module for Windows. DVB-T and DVB-C should work again
Fixes for RAR compressed files
Fix DirectShow crashes on exit
Improve PulseAudio input latency
Fixes for HTTP access through a proxy
v4l2 webcam outputting H264 can now be used directly (use --v4l2-chroma=h264)
Fix subtitles auto-detection in subfolders and detection behaviour
IE http proxy is not used anymore by VLC on Win32
Accept more extensions for DVD images
Fix crash in VC1 packetizer
Improvements in Blu-Ray playback
Improvements and fixes in HLS support

Codec:
Fix crashes in AAC decoder on channels changes, notably in ISDB streams
Fix compilation with multiple FFmpeg and libav versions
Fix G726 support
Fix MP3 free format support

Demuxers:
Fixes for MKV segments, seeking and MKV title display
Fix for some mp4, voc, midi and au crashes
Fix for Real .ram, .f4v, .avi and .ra files support
Fix for DVB channels file support
Fixes for alac, vorbis, DTS, VC-1 and Dirac in mp4

Encoders:
Fix for MPEG Audio encoding, use layer2 when using fourcc "mp2 " and "mp2a"
Fix for JPEG generation, when doing snapshots


Audio filters and output:
Limitation of spatializer volume output
Fix DirectSound device selection
Correct PulseAudio volume control
Do not apply volume in file output
Fix sampling rate in JACK output
Fixes in ALSA output for latency and for broken drivers

Mac OS X:
Enable drag and drop of playlist items between the temporary playlist and the persistant media library
Enable import of playlist items taken from the service discovery modules to the media library or the temporary playlist
Media key support for keyboards by other manufacturers than Apple This fix was facilitated through a hardware donation by ZF Friedrichshafen AG manufacturing keyboards under the brand "Cherry".
Add support for the Apple Remote to set the Mac to sleep using a longer press on the Play/Pause button
Remove libfontconfig's font cache by an Apple Type Services lookup. This removes the "Updating Cache" dialog, before finding all fonts.
Re-add an option to hide the window decoration during video playback
Improve compatibility with other 3rd party apps using SPMediaKeyTap
Many Fullscreen fixes
Keep Aspect Ratio when resizing is back
Add controls to manipulate the Subtitles Duration to the Track Synchronization panel
Hidden items in the sidebar are being retained for the next launch now
Fix crash when trying to open an Audio CD by drag & drop
Improve reliability when opening DVDs or BDs by drag & drop
Fix crashes on exit
Fix crash when mounting a device with multiple logical volumes while VLC is running
Chosen audio output device is retained throughout multiple sessions
Since running the Mac OS X interface as an Extra Interface or Control Interface can lead to undefined results, eventual settings will be automatically reset on the first launch. This fixes issues with unresponsive playback controls and crashes on quit.
Update Growl plugin for use with Growl 1.3
Miscellaneous minor interface improvements

Lua Scripts:
Fixes for stdin/stdout and for different locale issues
Fixes for icecast SD

Qt:
Fix preferences for audio devices on Windows
Fix playlist search and selector behaviour
Fix multiple issues in the Open Disc dialog
Miscellaneous fixes in preferences, buttons, EPG, playlist and customize dialog
Fix tags and file names display
Fix various crashes, display issues and usability issues

Skins2:
Fix mousewheel on Windows
Fix for key events and focus loss

Web interface:
Fix display of some buttons
Fix listing of files in the Open interface
Fixes for widgets behaviour and vlm dialog

Security:
Fix Ogg Heap buffer overflow
Update taglib (CVE-2012-2396)
Update libavcodec and other codecs libraries

Translation:
Traditional Chinese, Simplified Chinese, Walloon, Slovak, Polish, Khmer, Japanese, Italian, French, Czech, Belarusian, Breton, Greek, Spanish, Estonian, Irish, Galician, Hungarian, Japanese, Dutch, Telugu, Ukranian, Thai translations update
New Scottish Gaelic translation