A new release of Windows Embedded Compact 7 is available on MSDN which is a rollup of all previous updates packaged as a new installation.
Its dated December 2014 but has just recently been made available on MSDN (dated Feb 2 2015).
Quoting from the .ISO media:
This release contains the update on top of the list.
If previously released updates are not installed on the development system, all missing updates will be installed.
Windows Embedded Compact 7 Wave 2 update is aimed to provide the customers an enhanced version of WEC7 code base. It installs the fixes for all the below reported bugs.
Due to the large size of the updates, Wave 2 is released as cumulative product update. It will install all the updates that have been released since Compact 7 was released publicly.
For our customers with a previous version of Compact 7 installed, the Wave 2 release will update your installation by removing existing content and installing the new content.
Depending on your download speeds, the full acquisition of Wave 2 and installation may take several hours.
Just like previous updates, the Wave 2 update can rollback to a previous update. This will take more time than usual as the previously release installation packages will need to be reacquired.
ISO size:8.1G (Takes awhile .. took me two tries)
Hopefully this fixes issues with WEDU although noticed on the MS Compact forum a user problem to do with Shared Source with trying to update to Wave 2 with WEDU.
Subsequent Update: Note that January 2015 is available vie WEDU.