Apple Seeds OS X Lion 10.7.4 Build 11E46
The latest build reportedly has no known issues and focus issues include the App Store, Mail, QuickTime, Screen Sharing, and Time Machine. The first developer build of 10.7.4 was seeded in March. 10.7.4 may be soon due for release.
Development on OS X Lion (10.7.x) is presumably winding down as Apple has already pre-announced the next version of OS X. OS X 10.8 (Mountain Lion) has seen two developer builds and will introduce a number of new iOS inspired features. 10.8 will become available sometime in the late summer.