why donut mod 4 wasn't released yet ?

Posted in Donut Mod
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Donut Team is focusing on other stuff right now.
Donut Mod 4 is a large project and, as Danny said, the team are working on the other tools and projects right now. The latest beta was released 12 days ago on March 1st.
Judging by the few days left until April Fools, I can guess there will be something like a hint, or a humorous video, regarding the mod. DT is known for doing this every year.