The new update makes the following changes, the first of which focuses on expressing your self through your ringtone:
Personalize your ringtone
Customize incoming call sounds for a contact by selecting a ringtone from your device. In a conversation, tap the lower right and select “Ringtone options” then “Set custom ringtone”.
Forward photos from your chats
Share photos from chats with other Skype friends and family who may not be in the conversation. Just tap and hold on the photo you want to share and select “Forward photo”.
Of course, some improvements on looks were still implemented in the new update. Skype says that it has also managed to slip a number of fixes and additional improvements into the new software, and added in the functionality of changing the colors of avatars for group chats so you can more easily tell one conversation from another.