As I had posted earlier New Windows Live Hotmail Screenshots, at that time the New version was not on all servers, so many users have not yet got the newest version.
Now email support Space reports that newest version of Live Hotmail (which is called M2) has now been released and is on all servers. This means everybody can now enjoy the new features , upgrade of this new version.
One more thing to note that in the Compose message Window, the options of 'Cut/Copy/Paste' are again available. But this option is available only in users of IE6 and IE7
As you can see the difference of options available in
Internet Explorer 7
While in FireFox, the options for 'Cut/Copy/Paste' buttons, 'Insert Search Link', 'Background color' and 'Spell Checker' Options are not available yet.