I've released redshift 1.4 today. The source is available from the launchpad project page as usual. Packages for Ubuntu Lucid are available in the PPA. There's lots of exiting new stuff in this release thanks to several contributors: Francesco Marella, Dan Helfman and all the translators.

• Command line options for color adjustment methods changed. Procedure for setting specific screen (-s) or CRTC (-c) changed. See redshift -h for more information.
• Automatically obtain the location from the GNOME Clock applet if possible.
• Add application indicator GUI (by Francesco Marella) (fixes #588086).
• Add reset option (-x) that removes any color adjustment applied. Based on patch by Dan Helfman (fixes #590777).
• configure options for GUI changed; see configure --help for more information.
• New translations: German (Jan-Christoph Borchardt), Italian (Andrea Amoroso), Czech (clever_fox), Spanish (Fernando Ossandon), Finnish (Ilari Oras).

UPDATE: 1.4.1 released. It includes mono icons for Ubuntu (by Joern Konopka); the status icon toggles to show whether Redshift is on or off; and it has updated translations: Spanish (Fernando Ossandon), Russian (Чистый).