This is not the most recent version of Ptolemy II. The most recent version can be found at
Ptolemy II 0.4beta is the second Ptolemy II release to include domains, actors, and applets of sufficient quality and architectural stability to use as models for development. The domain-polymorphic actor libraries, in the ptolemy.actor.lib and ptolemy.actor.gui packages are still small, but reasonably solid.
Ptolemy II 0.4beta supports an XML language called MoML for specifying component-based models. Chapter 2 of the Ptolemy II Design Document describes how to use MoML to create models.
The Ptolemy II design document that is shipped within the Ptolemy II 0.4beta tar files is incomplete, see the download page for details
We would be interested in any feedback you might have concerning these demos. You can send email to ptII at eecs berkeley edu.