According to Jeb From the Mojang Team. The new 1.8 update is to be released by the 12th! Keep in mind that not all servers will be updated immediately. So either keep your game on 1.7.3, and do not update! or update to 1.8 and wait until this update is patched by Bukkit to re-gain access to the FrostmourneMC Servers. If you are not on the same update as the server, You will not be able to login until the server is updated. And the wait time for that, is unknown. But soon, I hope!
This new update may/should include the following features:
Known as the "Adventure Update", meant to flesh out the game a bit and make exploration and combat more rewarding. Note that this is not Adventure Mode.
Fixes and Changes:
Graphics / UI / Audio: