TopStyle 4 is now in beta, with a final release announced for May:http://svanas.dynip.com/topstyle/
Nick Bradbury / NewsGator have sold it to a new developer, so perhaps the project will move on again. The beta can be downloaded and it seems free from a nag-screen, nice. The main change is support for UTF-8 and UTF-16 encodings (both appear to be correctly recognized as long as the byte order mark is present). Not much information on the website yet, but the FAQ explains the details of the ownership change.