There is an update on the RiP Dev Blog which confirms that they are in the final stages of fixing the UI for the new version.

Here is the full quote and screen shots of Installer 4.0

Hi folks! Many of you are wondering what’s up with Installer 4. No, we haven’t slowed down the work on it, and are currently in the final stages of hooking the GUI to the back-end. We will be contacting the authors of the major repositories in a few days to invite them into the testing process and to prepare for the upcoming repository changes.

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