Leah from the Windows Live Messenger team has recently announced on the Windows Live Messenger Team Blog that an upcoming version of Messenger will be released today, this being Windows Live Messenger 8.0.556, here’s a list of what’s new:

New Feature

• Live Contacts are Live! Click the button on the back of your contact card to enter in all your information (phone number, address, job, spouse , etc). 

New Functionality

• See that transfer status of the files you’re sharing in your Sharing Folders.
• Get your File/Edit/Actions/Tools/Help menus by clicking the arrow next to minimize in the main window/conversation window
• Colorization colors the whole main window, not just the header
• Scrolling on the emoticon/nudge/wink tool bar. If you keep your window small, you can still get to everything. Oh. We reordered them too so it looks cleaner
• Users in English-speaking markets – link to This Blog! from the “Help” Menu.
• Contact sorting back to the way you said you liked it alphabetical instead of by status.
• Sharing Folders are AWESOME but sometimes you just want to send over one file.
• Pick your prefered method of file transfer from the sharing button.
• Way improved “Add a Contact” Dialogue.

Realignment

• Left-aligned your display picture (version 522 had it on the right)
• Slid the ink and handwriting tab over to the right of the conversation window

New Icons

• Buddy List view (where you sort, or chose to show more details)
• The Windows Live Messenger Beta logo at the top
• Search button at the very bottom.
• Brought back status icons so you can tell busy v. away If you think it looks outdated we agree we’re working on icons that are both good lookng AND show  busy v. away

Eliminate Waste (of space)

• Contacts are closer together so you can fit more in your window
• The ME area above your contacts is smaller to make more room for you contact list
• Tightened up the space between the display pictures in the conversation window
• Removal of Text in several places:
• Search on the search box in the main window
• Names of buttons in the conversation window
• Send & Search are now both smaller and moved inside the text entry box
• Turn off your tabs in Tools–>Options–>Tabs

Via: Windows Live Messenger Team Blog