As mentioned at the end of June, there was controversy surrounding 256 color terminals by default for Fedora. Most software can handle 256 color terminals rather than only providing a color palette of 8 colors, so it really shouldn't be a problem, but today it received the official approval.
The Fedora Engineering & Steering Committee voted in favor by +1:5 0:0 -1:0 for doing 256 color terminals for Fedora 18.
Confirmation of approving 256 color terminals as a Fedora 18 feature can be found on the mailing list. For more information on the feature specification, see this Wiki page.
At Monday's meeting it was also approved to improve CIM management by implementing new CIM providers and extending existing ones to enable basic system management capabilities that comply with the WBEM/CIM standards. Integrating Fontconfig 2.10, Rails 3.2, Perl 5.6, and PowerPC ppc64p7 sub-arch support for RPM/yum were other approved Fedora 18 features.
For other expected Fedora 18 features, see Fedora 18 Will Preview A New Package Manager (and the follow-up DNF: The New Package Manager Of Fedora 18), Fedora 18 Approves Controversial Feature, and Fedora 18 To Get User Mode Migration, Xfce 4.10.
Fedora 18 is codenamed the Spherical Cow and should be released by Red Hat in November.