Wayland and the reference Weston compositor have been updated against the upstream version 0.95 release for the packages to be found in the forthcoming Ubuntu 12.10 release.
Wayland isn't playing any useful/official role in Ubuntu 12.10
with Canonical's plans for a Wayland-based system compositor having been delayed to a future release, but Wayland/Weston packages continue to be available from the Ubuntu universe archive -- they just aren't too useful at this point. There are the Wayland/Weston packages and some simple demos that can be run from the Ubuntu packages, but the tool-kits packaged for Ubuntu along with other components aren't yet being shipped by Ubuntu with the Wayland support enabled.
Confirmation of the Wayland/Weston version 0.95 bumping can be found from packages.ubuntu.com
A Wayland enthusiast has now created a Wayland-enabled GTK+ Launchpad PPA
for those wanting Ubuntu to at least have GTK+ support that works for Wayland. "Darxus" just rebuilt GTK+ with the --enable-wayland-backend
switch and he's hoping to get this into Ubuntu 12.10 as a feature freeze exception. However, for this post-freeze change to happen, lots of people need to test out GTK+ with this back-end enabled. So if you're interested, try out the PPA for Ubuntu Quantal and report your findings in this bug report
More details are available from the wayland-devel mailing list
For those wanting to experiment with Wayland/Weston, one of the best ways to do so right now is by running a Wayland LiveCD