The best way to check on the progress of OroCommerce development is to follow our blog. We are regularly publishing updates on what our team is doing, as well as release announcements and descriptions of the new features. The “Show me the theme” blog post series (part 1, part 2, part 3) would be the best place to take a glimpse forward at what the store frontend theme may look like.
The primary areas of where the OroCommerce development team focuses its efforts currently are highlighted at http://www.orocommerce.com/features/ . The list there contains only high-level items as we are proactively collecting feedback from our partners and community after each release and use it to adjust feature/functionality and our detailed plans accordingly.