Siemens PLM Software is today announcing that "Solid Edge with Synchronous Technology 2" (yep, that's the official name) is due to ship this summer.
The primary new feature is its synchronous technology has been extended to sheetmetal design -- ST being history-free feature-based modeling. In an interview with Siemens, they confirmed that future releases will continue to extend ST to other areas of Solid Edge, NX, Femap, and so on.
One naming change: Femap Express is now called "Solid Edge Simulation Express" and is free with Solid Edge.
There is a nicely laid-out Web page of all the new and improved features here: Press Kit.