Well, not a real update as a new version of a program, but a new SubtitleAPI, meaning a new subtitle formats were added.
For those of you who do not know why and how to update, please read this:

http://www.urusoft.net/products.php?cat=sw

This is the official link from Urusoft forum, to update to the recent version of SubtitleAPI:

http://www.urusoft.net/forum/viewtopic.php?id=3174

Just copy/overwrite the new file in SubtitleAPI folder in Subtitle Workshop directory.
I've been using SubtitleAPI ver. 1.0.8.11 for a couple of months now.