I also came here to post for the first time soon after xms but for 0.8.2.
BTW. panzer, IMO release is when all is finished. M. Geeks can jump on an English page update - they are English.
It would be IMO much more embarrassing if the announcement is made when only the English download page is updated. It could even cause a FAQ. Because then the browser language settings could lead many K-Meleon users to an older Version - while they know that the new versions are out. And this will happen for all the locale versions that have a native browser and page.
You use the Englsih locale - but it happened to me once - I have German settings and the German page was not yet updated. I had to reset language to English to download the newest German version
p.s. My guess 1.5.4 (1.8 GRE and browser update) will come during or after the xms holidays. Its not only the time of gifts - but also a few free days.