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Documentation: http://wiki.blender.org/index.php/User:Psy-Fi/UV_Tools
Major features include:
*16 bit image support in viewport
*Subsurf aware unwrapping
*Smart Stitch(snap/rotate islands, preview, middlepoint/endpoint stitching)
*Seams from islands tool (marks seams and sharp, depending on settings)
*Uv Sculpting(Grab/Pinch/Rotate)
All tools are complete apart from stitching that is considered stable but with an extra edge mode under development(will be in soc-2011-onion-uv-tools).