I’ve just notice Update 2 of Delphi 2007 and C++Builder 2007 does not update your Borland.Studio.ToolsAPI.dll. So the version number of it remains 11.0.5000.7128 which is just the same as Delphi 2007 Update 1 and C++Builder 2007.
As a result, M4 of GrapeVine is compiled against this version of ToolsAPI assembly. Although I do not have a test environment to test, I estimate that M4 should be able to load in Delphi 2007 Update 2. I believe it is good news for those who wanna have a try of Code Beautifier Collection with their new CodeGear IDE.
You can find the download at http://code.google.com/p/lextudio.