From the TrueLaunchBar support forum (
http://forum.tsoftcentral.com/viewtopic.php?t=2424):
New features since version 3.2
* Changing default command
* Customizing buttons and menu items
* Settings preview window
* Improved Accelerators
* Improved Custom Colors
* Improved user interface
* Improved Auto sensing
* Improved keyboard and mouse navigation
* New arrange icons options
* Support JPEG, GIF, BMP for overlay images
* Changing the text of menu items and buttons
* Run All command
* Tear Off Menu
* Creating predefined Virtual Folders
* Customizing multiple buttons at once