Not sure what's new, I don't pay close attention. But the focus seems to be on Section I, paragraph 5, sub-E.
"You may not use Twitter Content or other data collected from end users of your Client to create or maintain a separate status update or social network database or service."
What this seems to mean is:
1. If your client touches the Twitter API, then any text or data the user enters into that app becomes Twitter Content.
2. You cannot use that data to form a new service. So there goes the idea of Twitter clients sharing info between each other using RSS. They should have done it a long time ago, now they would be able to fall back on that net (and that's why Twitter wouldn't be able to pull this string now).
3. You can't be half in and half out. Either you connect to Twitter, and they own you and your users, or you don't connect to Twitter.
I don't think there's really anything here that wasn't obviously coming before. I've said it many times, but I guess people don't read my posts, otherwise why are they surprised. This has been a long time coming.