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This release contains several bug fixes that have been applied since 7.x-1.0-beta1 was created. Beacause the beta release has been used by hundreds of sites since its release with a minimal number of issues, I think it's safe to release this version.
That said, the 7.x-1.x branch is essentially unsupported. It can only use the TimelineJS v2 library, which is also unsupported by its maintainer. No further development will occur on this branch. Simple bug fixes may be applied.