Updates to Terraria have been released. The updates will be applied automatically when your Steam client is restarted. The major changes include:

Controls
Right clicking and holding on a crafting recipe will craft multiple of the same item to a max of the stack and/or until you run out of materials.

Items
NEW ITEM : Sticky Bombs, Requires 5 Gel and a Bomb.
Sand Duping bug fixed.
Placing a bed far from the spawn no longer causes a player who has set their spawn there to crash on join.
Mining stone and other hard ores make a 'tink' noise now.
Hellstone and Obsidian now require at least a Demonite pick to gather.
Sand no longer spawns within a certain distance of the spawn location, This should remove the chance of spawning in a desert with no wood to use.
Hellstone now correctly takes as long to dig as meteor does.
The clay pot item now has the correct size.

Performance
Frame-skip is now correctly ON by default for new players.
Increased Client Side Multiplayer stability. Should resolve many crash causes.
Corrected a bug where players would intermittently not take falling damage.
The world file is now saved to a temporary file that is copied over to the actual save file. This prevents world corruption when saving is interrupted.
Fixed a bug that disabled some error handling. Overall game stability should be improved.

GUI
The version number of the game now shows on the title screen.
Typing numbers in chat no longer changes your selected item in your hotbar.

Server
Servers now listen to all IP addresses on the hosting PC, regardless of how many network connections are active.
Typing "localhost" instead of your own local IP address will connect to your own same-PC server.
The games default port is no longer ELEET (31337) it is now 7777.
Client will now resolve a hostname into its IP address, for example, if randomsite.org ran a server, you could type randomsite.org as the IP address and be able to connect.