I couldn't find release notes either but heres the list of updates that my (previously up to date) lab reports this update will install (CMS and SMS installs).
It looks like most of the solutions on my "annoying bugs list" have an update.
Altiris Client Management Suite SP2 MR1 (7.0.12)
Altiris Inventory Solution SP2 MR1 (7.0.1255)
Altiris Software Catalog Data Provider SP2 MR1 (7.0.40)
Altiris Inventory for Network Devices SP2 MR1 (7.0.2116)
Altiris Out-of-Band Management SP3 MR1 (7.0.1541)
Altiris Patch Management Solution Core Services SP2 MR1 (7.0.4219)
Altiris Patch Management Solution for Linux SP2 MR1 (7.0.4212)
Altiris Patch Management Solution for Windows SP2 MR1 (7.0.4210)
Altiris Software Management Solution SP2 MR1 (7.0.1831)
Altiris Power Scheme Task SP3 MR1 (7.0.1302)
Altiris Real-Time Console Infrastructure SP3 MR1 (7.0.1820)
Altiris Real-Time System Manager SP2 MR1 (7.0.1820)
Altiris Deployment Solution Complete Suite MR1 (7.1.607)
Altiris Deployment Solution Linux Support MR1 (7.1.607)
Altiris Deployment Solution WinPE Support MR1 (7.1.607)
Altiris Deployment Solution Core MR1 (7.1.607)
Altiris Server Management Suite SP2 MR1 (7.0.12)
Altiris Inventory Pack for Servers SP2 MR1 (7.0.1255)
Altiris CMDB Language Support SP1 (7.0.1301)
Altiris Deployment Solution Languages 7.1 MR1 x86 (7.1.1053)
Altiris Patch Management Solution for Windows Language Support SP2 MR1 (7.0.4210)
Altiris Real-Time System Manager Language Support SP2 MR1 (7.0.1820)
Altiris Inventory Solution Language Support SP2 MR1 (7.0.1255)
Symantec Workflow Language Support SP2 (7.0.1234)
Altiris Real-Time Console Infrastructure Language Support SP3 MR1 (7.0.1820)
Altiris Network Discovery Language Support SP4 (7.0.7416)
Altiris Monitor Solution for Servers Language Support SP4 (7.0.7416)
Altiris Inventory Pack for Servers Language Support SP2 MR1 (7.0.1255)
Altiris Patch Management Solution Core Services Language Support SP2 MR1 (7.0.4219)
Altiris Out-of-Band Management Language Support SP3 MR1 (7.0.1541)
Altiris Patch Management Solution for Linux Languages SP2 MR1 (7.0.4212)
Altiris Software Management Solution Language Support SP2 MR1 (7.0.1831)
Altiris Inventory for Network Devices SP2 MR1 Language Support (7.0.2116)