As of August, 1995, ORA has contracted with Stephen to handle the Camel update. According to the accepted timeline, the first draft is to be finished by the end of April, 1996. The tutorial sections are being cut some, and the book will take on much more of a reference style. Don't worry, it will still contain its distinctive humor and flair.
There are no current plans to update the Llama. For the most part, it serves as a good introduction for both major versions of perl. There may be some minor editing to it, but probably nothing major. If anything, it is more likely that a third book (working title: Learning More Perl) will be written as a tutorial for the new perl5 paradigm.
Other resources at this site: