Some new interesting features was added recently.

Home:  http://sourceforge.net/projects/flam4/
Direct Download: Version 0.71

Changelog
v.0.71
-Added transparency option for PNG sequences.
-Fixed issue with the PNG sequence folder browser – you can now save to any folder, not just folders in My Pictures.
v.0.70
-Added support for rendering animations to PNG sequences.
v.0.69
-Fixed bug in loading flames with the hue parameter used which was introduced when I switched the palettes to floating point (v.0.63)
-Added support for png transparency
-Greatly improved saturation correction, most noticable in bright red and orange areas
-Set *.flam3 to the default file option, at least until *.flam4 is implemented
-More performance tweaks for multi-GPU