I got this news from one of my fellow Silverlight MVP, that the Microsoft is planning for the new version of silver light that is Version 5, with some new features and capability for helping the developer to create some good application.. I have seen the Blog of Timheuer here is the Blog link from where I have got these information.
And In the Application Development side.
You can read the detail article on this blog Here. And please post your comment and suggestion so that we can forward it to the silver light team.