No, 1.5 isn't quite out yet, but it is being finalized for last minute bugs and balances.
Check out the details:Work on the latest game update for Enemy Territory: QUAKE Wars is steaming ahead at full knots and we're now testing the latest version of it internally to see if there are any glaring issues left to fix. Even more exciting, we've put together the final changelog for the update... In a smallish nutshell, 1.5 brings a number of new features and customization options to ETQW and fixes all of the issues left over from 1.4.
http://www.splashdamage.com/?q=node/197