The very first item under "We've added some new post processing techniques" you describe as "this has always been there" --- how can it be both?
It sems like there is actually only one new feature, Materials Channels. But there's a list of four items that are presented as new. [...] suspicion confirmed: Exaggeration.
There were actually two new items since the release of Version 3.5 - Matrrial Channels and the Contrast Slider.
We felt that the combination of these features with the Brightness Slider and the relatively new Lighting Channels, ( along with other Post Processing features not mentioned in the newsletter - such as haze, distance blur, vignette, etc.), has made the Integrated Post Processing a powerful feature of Irender nXt.