The next one is already being developed...
Terraria Community Forums
360Chadscope
Lord of Cats
oh ok. question answered.
Ziggyzagoo
1.3.1 is coming! ^_^ and 1.3.0.8 is already here.
360Chadscope
1.3.0.1 - 1.3.0.8 were more just bug patches than large updates, though.
Ziggyzagoo
They WERE updates though, :I
360Chadscope
They were, but I suppose @Lord of Cats was talking about large updates rather than just anything that changes the number in the bottom left of the title screen.
Ziggyzagoo
Oh don't worry about the game ruining bugs, they weren't relevant at aaaalll. 
360Chadscope
Still not large updates, though.