The current version of PlaneShift is 0.3.012.
I take it you installed the latest binary, which has 0.3.011 as version. The updater under linux will
only update the art, not the game logic itself.
Unfortunately there is no binary package available for the 0.3.012 or even an update for linux, so you will either have to wait until it is released (Xordan, the dude who usually does that seems a bit busy these days

) or you will have to try to compile from source. How you do that is described under
http://laanx.fragnetics.com/.Make sure that you use CS (Crystalspace) and CEL (Crystal Entity Layer) from Oct. 6th 2005, 00:00 UTC and PlaneShift from around Nov. 22nd (After that date, the network protocol isn\'t compatible anymore with the public game server).
I am not 100% certain about that last date, so perhaps someone can find out the right date for you - either you wait here, or you join IRC on irc.freenode.com, channel #planeshift-build .