(Maverick Meerkat) has approved our freeze exception request, and will be including OpenShot 1.2.2
(the newest release) when it launches on October 10, 2010.
If you have the beta of Maverick, you can find version 1.2.2 already in the Ubuntu Software Center!
Strangely, the software center has truncated one of our bullet points in the description (i.e. "Videand"). You can check it out on the screenshot here. I guess I'll file a bug about this one. =)