They have a changelog up for 1.1 available
here. Mostly little game balance tweaks and bug fixes, looks like. Illuminators have been tweaked down a tiny bit.
Returning Armada gives more/bigger ships, but goes off less often (10 minutes); I guess to make it less of a free fleet and more of cavalry coming over the ridge.
They've fixed a lot of synchronization problems (remember Mark's alternate galaxy problem?) and have improved their firewall traversal; both good things. They have also tweaked the AntiLight and AntiVeryLight damage to do 50% damage against big ships instead of 25%, effectively doubling their effectiveness against big ships. Lots of other tweaks.