4J Studios has released Title Update 16, the latest patch for Minecraft Xbox 360 Edition. Patch 1.06, the equivalent patch for PS3, isn't far behind.
Title Update 16, like Title Update 15, doesn't introduce any new content. The focus is once again on fixing glitches. The developers noticed the players were unexpectedly turning invisible or having trouble with breeding Ocelots. Those bugs and more should be gone, though.
While the patch is only available on Xbox 360 at the moment, 4J Studios says it will debut on PS3 within a week:
.@8Andos Sony say it's looking like 28th May for the release of #MinecraftPS3 Patch 1.06 (TU16 equivalent).