I play the game every day (check my pantheon account):
There are two avenues of new features going into Demigod:
1. Demigod specific stuff: GPG.
Right now, we have a build that they're really trying to get out in the next day or two that has the replays and such in. You'd be surprised at the kind of little weird stuff that can creep in that have to be found and fixed.
BTW, I'm having the Skirmish option taken out. So before anyone yells outrage, I was the one who specifically asked for it. It's never been a popular feature, splits the MP community and lets SD off the hook on making custom games more robust.
But as others mentioned in this thread, if it's Demigod specific, it's GPG.
2. Stuff developed by Stardock for Stardock published games in general.
The main avenue here are the overlays. For instance, we're working on having the connection info give users in game access to other player stats for more balanced gaming in custom games where I think the real "Fun" of the game comes in (And in the absence of those stats being accessible, a lot of the frustration).
This is also where things like team games and such can come up and other things. However, the pacing of those kinds of updates are going to be slow.
As for balancing, playing the game online daily helps me get an idea of things. But other than QoT being a bit too wimpy and Erebus being a tad too powerful, the balance is pretty good. The weakness is that too many of the items are simply useless distractions that don't lead to any particular build IMO. That's not something easily rectified though since a lot of people wouldn't agree with me necessarily.
But IMO, as someone who has played a lot of MP games over the years, Demigod is pretty well balanced.