Yesterday the new minecraft 1.8 update ("The Bountiful Update") was released. The server has yet to implement the new features of the update, as we are waiting for bukkit to be updated. I don't know when bukkit will be updated but seeing as this is a major update it could take a week or so.
1.8 clients can still join and play on the server although none of the new features and items introduced in 1.8 will work just quite yet.
Important note regarding name changes:
Name changes are not available in 1.8 and it has been stated by Mojang that this will be implemented at a later date. There is certain information regarding name changes and how they will affect users on the server that I will post here when the time comes. Name changes are a big deal! They are a huge hassle for server administration and cause a lot of problems! Soon we're going to have to look up uuids (which are hardly easy to remember) to be able to identify who's who...