Development under way. If you sign up there is numerous presets and changes you can make to this colour scheme and website. There are two user posting channels: Blogs and microblogs. A blog will have 10,000 max characters and a microblog has 1,000 but this only counts pure text, not HTML which a good majority is allowed and will be an ever changing system that modifies itself to maximize customizing this experience and soon your profile layouts.
Definitely wouldn't rule out any bugs but my testing is going relatively well so far, which means nothing. :)
Uploads are limited to 8MB. Total post, but get this. 10 files. One can be a video, one can be an animated image, 8 images to go with it? All at once. As long as you play within the 8MB (per post) file size limit. You should be OK.