In an update posted today in Google Play store, YouTube received two new features and the same amount of fixes. The first new feature as listed in the store is the ability for YouTube to autocorrect search misspellings. The second feature is a video quality selector to choose between different resolutions; very useful when you have a slow connection.
On the fixes front, the voice search issue is now resolved. Finally, YouTube gets the "many other bug fixes and improvements" treatment.