Compiz 0.7.8 adds a new plug-in named "obs" that provides opacity, brightness and saturation bindings and matches. Some of these options were previously available for configuring within Compiz's core, but that has been removed in this release. In addition, the unresponsive window gray-out that many people often experience, can now be configured through the Fade plug-in. A "constant fade time" option has also been added to this plug-in.
Aside from changes with plug-ins, Compiz 0.7.8 has an enhanced timer infrastructure that should allow synchronization of execution of multiple timer callbacks. There is also an addition to match for the window's alpha channel and reflect new Metacity "spacer" button type in gtk-window-decorator. Like most software projects, this release also carries bug-fixes and translation updates.
The Compiz 0.7.8 release announcement and source download links can be found on the FreeDesktop.org mailing list.