Following the RandR 1.2 integration earlier this week, the RadeonHD v0.0.4 driver has been released. In addition to the RandR 1.2 support from master, RadeonHD v0.0.4 also features LVDS support on RS690 GPUs and later.
I tried out xorg-x11-driver-video-radeonhd-0.0.4-1.1.x86_64.rpm on my fedora 8 dual-head system and it didn't work for me. The second monitor is mostly dark, except for an occasional flicker during which I can verify that the desktop space is there. I'm guessing this involves DPMS?