I'm not sure whether my HTC smartphone lacks certain features or whether I just haven't found them yet, but I can say that the abilities I have found are quite useful. And here's where things get fun: the color used for the highlight/underline/strikethrough can be changed to any of 1.67 million shades, or about 1.67 million more shades than the highlight options offered by the big-name reading apps.
The changelog also mentions that the PDF thumbnail function, which lets you see the pages of a PDF as thumbnail sized images, is now faster and smoother. There's also a new tilt-turn page turn option for those whose thumbs are busy (it happens). Other updates include improvements to the book import procedure and a tweaking of the highlight renderer for Epub and other reflowable ebook formats. I haven't used Moon+Reader's annotation options enough to see the difference, but I'm sure it's there.
This app last crossed my desk back in August when I reported on a previous update which added support for Epub3 video. At the time I noted that it appeared to support right to left languages, but I lack the language skills to confirm this.
Update: The RtL support is incomplete. I've been told by a commenter that the page turn rendering doesn't go in the correct direction.