Now Version 2 sees the inclusion of Apple’s iTunes Plus codec so you can mix directly for the “Mastered for iTunes” programme, monitoring the same clip behaviour as the iTunes encoding chain - saving you time and ensuring high quality output during the mixing process.

Also new in Version 2:

• 64-bit compatibility
• Additional codec - Fraunhofer MPEG Surround
• Additional codec - Apple AAC iTunes Plus (Mac only)
• AAC-LC support for 256kbps VBR
• AAC-LC and HE-AAC support for 96kHz sample rate
• HD-AAC support for 16-bit files

Pricing is the same: £295 GBP / $495 USD. Existing owners can upgrade free of charge here.
For more detailed information about Pro-Codec, please click here. 
Groove 3 Pro-Codec Explained by Mike Thornton

I am off to download the update.