Nice Holo update released yesterday. Still a couple of oddities though. For example, when using the new 2x2 folder grid, the animation is very jerky when closing the folder. Strangely, it seems worse when there are only a couple app icons in the folder. Another thing I find odd is the inconsistency in "remembering" screens. If you access the app drawer, then exit and re-enter, it returns you to where you last were. Yet, if you are in any homescreen and then go into settings, when exiting it always takes you back to the defined home screen (if you have one set... and I do). Also, when vertical app drawer is selected, the "Transition effect" submenu should be disabled, since it obviously does nothing in that mode... but it isn't. I also noticed a Honeycomb-specific bug: since Honeycomb uses a black background in dialogs, the "Restore settings" choices are invisible, since they are in black text. To make them visible, you have to long-press in the selection area. The toast message that appears after restoring says, "Operation successfully!" when it should obviously (to a native English speaker) say "Operation successful!". Despite all this though, I think it's a very good launcher and is moving in the right direction.
