Hi Phil,
Pretty sure that last July doesn't count as 'recently', so not sure how helpful this will be. But since no one else has posted a reply yet, i'll kick off. New track work is in evidence after crossing the Loddon river. This extended in bits and pieces for less than a km, but may have progressed since then.

After that, if it's been raining, it will be... err, damp. The new track work finishes and you plunge off the end of boardwalk into the bogs. Your feet will get wet, possibly, shins, knees and thighs too. Take spare socks, but expect to have soggy boots all the time when walking.

At the 'right turn' off the Loddons onto Phils Lead, the track can be hard to follow. There are many criss-crossing water courses - just head roughly in the right direction and eventually you'll hit the trees. There was some track damage from storms with trees down over the track and a diversion marked with tape around some trees. The track is easy to follow once you cross the bridge just after this spot. There were also trees down over the track on the climb up from the bridge over Philps creek but enough markers to follow the well trodden path.
Vera hut is most welcome, if it's cold enough to run the heating you might even dry the boots a bit. Whether or not they stay dry depends on the amount of rain you're getting. It will almost certainly rain at some stage, take good wet weather gear. Awesome walk, you'll love it!
Can happily bore you with more details and pics if requested. Be interested to hear if there is more track work in progress.
cheers,
Andy