Google today released a minor upgrade for Google Talk 126.96.36.199.
The new GTalk version is 188.8.131.52 though there's no version upgrade log detailing the new features or bug fixes that went into the new release.
The Official Google Talk blog is also silent about the new version of the software.
It could even be related to the GMail bug that was discovered by Haochi Chen and quickly fixed by Google.
Download Google Talk 184.108.40.206
Google Talk still has no support for smileys or emoticons like the ones you see in Yahoo Messenger.