OMG! Just a week after the release of VLC 1.1.6, the VideoLAN team released their new version VLC 1.1.7. Apperently it seems they has some major bug which needed to be fixed (some MKV playback errors). Other notable improvements include codecs, demuxers, Audio-CD support, subtitles, visualization and platform integration.
Currently there is no PPA available for Ubuntu 10.04 Lucid. To install in Maverick, open the terminal and paste:
sudo add-apt-repository ppa:ferramroberto/vlc
sudo apt-get update
sudo apt-get install vlc mozilla-plugin-vlc
I will be soon writing a post on how to install VLC 1.1.7 when new PPA is released.