Last week, the VLC beta app for Windows Phone picked up a big update that addressed background audio and issues with the UI. Today, version 1.08 is now live in the Store, and although the changelog is less specific, users should see all around improvements.
Version 1.08 brings "Lots of bugfixes" according to Thomas Nigro, who is heading the Windows Phone port's development. Although it would be nice to have more detail, we are surmising that there are lots of nitty gritty fixes that developers would only understand (translation for you: "seems faster").
Nigro does suggest that version 1.09 of VLC is likely bringing "tiny cosmetic changes, bugfixes, and maybe algorithm improvements". We'll, of course, keep our eyes peeled for that update.