Yes. It is almost finished, actually :) We have already used the new version in a number of projects, but it's still not ready for public release. We are planning to release it when the HTML5 multiresolution krpano is released, the latest.
Below are few demos and projects developed with the new version. PanoTag works on the iPad and iPhone, but the HTML5 version is disabled on some of these, since it would only be possible to zoom in very little.
http://panotag.net/is/
http://www.fifa.com/confederations…ramicphoto.html
http://radio2familyportrait.co.uk/
http://www.osheaga.com/gigaphoto/index_en.html