We make official releases several times per year, major version changes happen with debian stable major updates, with “point releases” in between.
It is important to keep in mind that Lion Linux unites sources with differing rates of change:
Lion Linux itself. Changes in our own software are released as soon as tested satisfactorily.
Debian Stable. Lion Linux follows a modified fixed-release model: users will upgrade between major Lion releases that are still within the same Debian version. Although Lion Linux is always based on the Stable version of Debian, packagers continually backport newer software versions as well as external packages to the main repository.
Xfce. The slowest rate of change, often with 2-3 years between versions.
The interaction among these components with different schedules makes it difficult to describe with any exactitude the Lion Linux release cycle.