The ballot to approve XLIFF 1.2 as an Oasis standard opened this week, and closes at the end of the month. The company I work for has already given a 'Yes' vote. I have been involved in the review of 1.2, and I'm fairly happy with the current state of the specification. The main focus now is 2.0 and there are lots of good ideas floating around.
Earlier this week, I discovered Swordfish, a new cross-platform XLIFF 1.2 translation tool from Maxprograms. The betas are freely available.