Yes, ya have heard correctly. I will be releasing the V2 edition of the "SByIo Library" to demonstrate new features and improvements with this version. Here are a few features/improvements provided by V2:

Multi-Lined Text Objects (Yes, it is now supported)
Onscreen Input (Warning: It is currently not efficient for multiplayer use yet.)
Efficient Item Text Object Highlighting (Uses icon states instead of redrawing them each time they're highlighting)

Ya will find more improvements and changes when I release it tomorrow.