If you have not been checking the boards, you will probably want to know this:
Version 0.3.4 will hit the servers later on today (27th May)
All of the updates "should" be completed by late this evening (server time).
Please note that the update process will interrupt any active battles (battles in progress at the time of the update) and will send those troops / ships involved in the battles back home. (Occupations and deployments will not be interupted unless there is a battle going on at the time of update).
Hope this info helps.
Soupy