I have no idea how I missed this until now, but the Gentoo website is reporting that version 2007.1 is cancelled in lieu of preferring to put more time and effort into 2008.0. Numerous security issues arose in late Fall of last year, which really held back development of the 2007.1, so it was decided to not waste time and move onto the next version.
Unlike most distros that release upgraded versions every few months, a delay in versions doesn’t really effect Gentoo users, since the system is constantly kept up to date via the Portage packaging system. However, such a delay still doesn’t look good on the distro, thanks in part to other issues that are also currently plaguing it. No one knows what kind of shape the distro will be in months down the road, but for the sake of all Gentoo’s fans, myself included, I hope it pulls itself out of the rut it’s in and get turned around.
Curious why only one release happened in 2007, since previous years had multiple releases? Work began on the release as planned, but vast numbers of security vulnerabilities between September 2007 and December 2007 and reduced manpower left the Release Engineering team constantly overworked, having to rebuild stages and add items to the initial snapshot.
Source: Gentoo Official Site