OpenELEC-5.0 is the next stable release, which is a feature release and the successor of OpenELEC-4.2.
The headline change is the update from XBMC 13 (Gotham) to Kodi 14.2 (Helix) and the big switch from XBMC to Kodi branding. Both project teams have conducted a major find/replace but if you spot residual mentions of XBMC anywhere please let us know. The name change affects more than the GUI; all references in code have been changed and in the OpenELEC filesystem /storage/.xbmc will be recreated as a symlink to /storage/.kodi to ensure hardcoded paths in addons or scripts continue to work. For information on Kodi 14 you can find on http://kodi.tv/kodi-14-0-helix-unwinds/.