First up, developers posted a picture of the first island ever generated by Worlds. We've come a way, folks.
Secondly, most likely due to the constant whining, complaining, impatience, criticism of the developers and attitude of entitlement that plagues the Elimbies Annex (and has gotten on my nerves waaaaaay more than it should have, as many people can testify), a "What we are working on" post has been published. These things won't all be in Update 2, but rather this supplements the planned features list on the store page. Some notable points:
Underwater exploration is coming, starting with the camera going underwater with you, also "when you dive down you get blue hearts and limited time to explore, while underwater vehicles will have no such problems!"
There will not be a separate gameplay mode, AKA Survival à la Minecraft. The reason? "We feel strongly that the identity of the game would suffer." That being said, they "do aim to draw inspiration from modes and mechanics we’ve seen elsewhere, just not in a packaged story or survival mode."
Obviously the camera will continue to be tuned (no mention of first-person mode)
They are currently making small tweaks the GUI, but in the longer run it will be overhauled (hopefully for the better)
"Also tying in to making exploration and discovery better, we are working on a procedural system for generating towns & settlements."
The biggest news here is more details on multiplayer. Starting with the obvious, their engine was initially designed as single-player, local co-op, not online play. Worlds is thus having them reconsider and rewrite a lot of their engine to work in online multiplayer. Maybe this means we can except online play in future TT games, but who knows. They are also adding local co-op with splitscreen. This one is interesting to me as I kinda expected this to be present already. It seems they were actually going to cut it out completely and replace it with online multiplayer. The problem now is such co-op brings performance issues, which have always been present, but by the nature of Worlds, I can see that being a bigger issue now.
Update 2 info will be coming out next week.