The release of GraphQL.js version 0.7 brings several exciting improvements to the schema language, including adding descriptions directly as comments in the GraphQL schema language and making it more convenient to create executable schemas. Additionally, there are changes to the naming convention for root types, new features such as separateOperations utility function that allows caching operations separately, and various fixes and breaking changes due to updates to default resolve functions and GraphQLError. These changes enhance the overall usability and performance of GraphQL.js, making it an even more powerful tool for building scalable and maintainable APIs.