New features:

1. Fully rewritten front-end and back-end to take advantage of new Joomla framework API
2. New bootstrap enabled front-end and back-end UI to fully compatible with Joomla 3
3. Fully compatible with CjBlog profiles, avatars, points system and badges system
4. Email templates: now your email notifications looks beautiful with the bundled email template. Not satisfied? you can customize it with plain HTML and CSS.
5. New Tags page to browse and edit tags. Now you can have description to the tags. 
6. Fully integrated tagging system. Now tags are displayed in listings, if description is available, it can be viewed on tagged questions list page. Adding tags now more intutive from the form page.
7. New points rules to award points for user whose answer voted up, voted down, and to the user who voted down the answer. 
8. New and improved dashboard for administration.
9. New advanced search page to search questions with different options
10. New My Subscriptions page to manage user subscriptions. Now users can unsubscribe all notifications with single click from the emails sent.
11. Improved rating system
12. New and slick sharing/bookmarking system
13. Now users can edit questions, administrators can fully manage questions and answers.
14. Improved attachments feature, with improved performance. Now attachments logs number of times an attachment is dowloaded.
15. New permission settings: Now you have more control of what your users are allowed to do. New permission settings for edit own question/answer, attachments, rating, reporting, subscribing,download attachments.
16. More control on how category list can be viewed with configurable options.
17. Admin notifications can now be sent to selected user group instead of single email.

Must Read before installing:

1. Community Answers v2 supports Joomla 2.5 and 3.0 only. If you are still using Joomla 1.5, please consider v1.9.4. Please note that Joomla 1.5 version is no more developed and do not contain all features available on v2. We will support Joomla 1.5 version till December end for any bug fixes etc.
2. Now CA requires CjLib component v1.4.0 or later. Please install it before installing CA.
3. If you are upgrading from previous version, make sure you have v1.9.0 or later is installed. You can get the old version from downloads if you do not have it.
4. Now there are two menu items available to create. One for home page the other for user pages. Unless you create user menu item, the user pages links will not be shown on toolbar (My Questions, My Answers, My Subscriptions links).
5. If you are already using CA on Joomla 2.5, you need not uninstall to install the new version. It is will automatically upgrades your old installation.
6. Now all configuration is standardized to Joomla parameters. You must configure them before using the component. (Go to Components->Community Answers and click Options button on toolbar)
7. There is no option for changing front-end UI theme in v2 as v2 no longer uses jQuery UI. v2 now completely designed on Bootstrap CSS and components. Please make sure the theme fits your template, you can get some third party free Bootstap themes from websites like bootswatch.com.
8. Though this is a beta release, it is fully tested against the security threats. So you can use it on production servers as well if you are ok with few minor issues. Please report any bugs you found so that we can provide you the more stable release.

If you are using Community Answers, please post your rating and review at the Joomla Extension Directory.

UPDATE: Beta 2 is released.