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Version 7.51 fixes a security vulnerability with extra-wide favicons [greymagic.com] (how do they find this stuff?!
Changelog for the Windows version here:
[opera.com...]
Rather than applying a myriad of patches and still not knowing whether you are up to date, Opera increments the version number each time they need to patch. That means that you always know if you've got the latest version just by checking their site. Of course, the downside is that you have to download everything each time, which is not ideal for people not on broadband.