However, SMS texting is not bidirectional. Which means that you can send SMS texts, but not receive them. And while a dialog box states that sent SMS texts will show up as sent from the sender's Skype screen name, in my case it displayed the "999-99" caller ID that typically accompanies calls from a Skype-based client. Perhaps that's because I don't have a SkypeIn number?
The 1.1 update also provides additional language support as well as more help when dialing phones.