Well last I remember, they were gonna release another version after the 1.60 shortly, but it was never released. I really don't mind though since ePSXe plays just about any psx game that was ever released.
Well the history of ePSXe is this. They don't say anything until they have something. There are a number of improvements they can make on ePSXe also. Most times it's over a year between releases. I guess Deal with it? And if they discontinue it, well you'll find out from NGEMU
PCSX is being continued by the way (as if any cared ).