v1.5.1 (TBA)
-Updated smali/baksmali to v1.4.0
-Removed maven in favor of gradle
-Removed Maven REPOs that were used if local projects didn’t exist.
-Merged brut.j.dir,brut.j.common,brut.j.util & brut.apktool.smali (Fork of JesusFreke’s smali) into one repo.
-Fix –verbose mode to actually work
-Don’t decompile public.xml (have aapt regenerate it based on resources).
-Added -o / –original flag to retain system APK signature and inject contents into APK

v1.5.0 (Released September 2 – 2012 ) Codename : Pikmin
-Fix for colours being decompiled with improper hex colours
-Fix for <string-array> being treated as array on occasion
-Support for Mac OS X user:home, instead of dumping frames into /home
-Updated internal framework.jar to API16
-Added <user-sdk> reading to insert into apktool.yml to help with aapt building
-Supported -d mode
-Added –verbose mode to output contents of AAPT (note this is a HUGE output). Only used for debugging.
-Ignore bootclasspath on debug mode. (Causes some classes in smali to be fail decompile)

v1.4.10 (Released August 21 – 2012) Codename: KOJAN
-Fix bad whitespace in manifest.xml
-Fix for bad decompilation of some APKs (Thanks KOJAN)

v1.4.9 (Released July 28 – 2012) Codename: russia
-Fix for plurals.xml (Thanks @miuirussia)
-Added xxhdpi
-Added uimodes for MIUI built roms
-Fixed problems resulting with bad ‘ and what not

v1.4.8 (Beta – Released July 8th – 2012) Codename: yyj
-Fixes for HTC Sense 4.0.4 apks that have an extra com.htc package
-Fixes merged from yyj (https://github.com/yyjdelete)
-Reverted 9patch fix due to errors

v1.4.7 ( Release on July 5th)
-Fixes from (Unreleased v1.4.6)
-New smali/baksmali v1.3.3
-Fix for grayscaled images (Thanks Charles)
-On-going logging code for HTC One Frameworks
-Changes from adjusted API 13 for localization

v1.4.6 ( Private Release )
-Fixed missing formatted=”false” due to mis-reading of xlif data.
-Fixed <item> being replaced by attribute when reference is used instead of string
-apktool.yml fixes for undefined frameworks
-Regex changed to identify folders with sw###-port etc

v1.4.5 (January 7, 2012)
-Updated included framework to API 15
-Updated include baksmali and smali to v1.3.3-dev

v1.4.4 (December 11, 2011)
-Updated included baksmali and smali to v1.3.3

prior to v1.4.4 - http://code.google.com/p/android-apktool/wiki/Changelog