Version 2.0 should be around "soonish" which should add a couple of new features and overhauls which have been in development for quite a long time. I think it's a pretty good engine although it sort of has this focus on the mobile devices. Using LUA is a big advantage in my opinion as that really can be called "scripting" rather than having a proprietary language like Lite-C which is so close to standard languages that you're probably better off with learning C# or C++ which can be used elsewhere too. I also think that the fact that the Lua code gets wrapped or how you want to call it into C code is a good thing as things get more performant...

Personally Shiva's biggest downside is the performace. There's this "The Hunt" demo which either is awfully done or simply shows the lack of peformance tuning needed for good looking PC games. There are quite some situations in that demo where your fps will drop to a single digit value (one even being looking straight down and shooting the ground to your feet - especially with the automatic weapons the impact effect with all the smoke and stuff will even bring a very modern and powerful system to its knees for no obvious reason)...

Still - the bang for buck factor of Shiva is very high and anyone looking for a new engine should give this a try. It's going to be interesting to see what new stuff version 2.0 will bring along...

EDIT:
Oh and you have to like the editor. It's a quite unique approach which might look strange to many though...