Facebook for Android has been updated to version 1.7, which includes some new features and bug fixes.  Primarily, the status update and profiles now have a new design, which allows users to tag friends and places in their posts.  Users also have the ability to better control their privacy settings from their mobile device.  The update log states:

• Made it easier to share with who you want
• Improved the sharing tool to add privacy controls on posts and match your settings on the web site
• Added the ability to tag friends and places in posts
• Added new design for Profile and Group Walls
• Fixes and tweaks:
• Improved photo browsing with swiping
• Added the ability to tag your friends in photos
• Improved Messages and Notifications
• Fixed a number of crashes and performance issues

The app can be downloaded and updated through the Android Market.

Source:  Mobile Burn