Hyperspace is definitely not a reverb like any other. It allows you to easily create your own algorithms in a fast intuitive way. From vintage plates or classic hardware to super realistic spaces or out of this world ethereal textures.
Now, this beast has been updated. You may see the GUI has been updated. Several functions (like oversampling, eco mode...) got hidden under right-mouse-button menu to make the GUI more transparent and to improve the ergonomy. Also, the internal core has been updated to improve compatibility with the most recent operating systems and DAWs.
Also, rumours say JMG Sound is onto something new. So stay tuned - you don't want to miss the next release, do you?