I hope to have a beta (which will have very rough edges, no docs but it's fairly straight forward) of v2.0 of templatestudio on tuesday or wednesday.
Editing templates is roughly the same, though templatebindings management has been added and which made the editor more flexible. I've left out editing platform, language and task files, as editing these is not that common and if you want to, it's best done in vs.net with the xsd's loaded for full intellisense; I didn't want to re-do that.. poorly
templatestudio v2.0 will work with llblgen pro v2.0. It's called 'v2.0' because it's for llblgen pro v2.0. Don't see this as a big step forward in featureset, as the goal for the application stayed the same: be able to create/modify templateid-filename bindings and to edit templates, as well as run templates/tasks.
For running tasks, the system uses the same preset system as LLBLGen Pro does, so you can re-use the presets in both applications.