The new update 20-07-2013 is out
There are two new features:
xatcher is now available and compatible with low-end devices that don't sport a magnetometer (compass) sensor such as Nokia Lumia 520.
Anyway I managed to create a solution that provides a navigation to the cache or an additional waypoint. It calculates heading from recent movement so it can calculate bearing to the taget.
You just need to keep your phone in the direction you are walking. The heading is updated every 5 meters if the accuracy of your gps-based position is higher that +/- 15 meters.
The bearing is not as accurate as it is using real compass sensor but I hope it helps anyway.
The second feature allows you to create named groups of offline caches (favourites). You can now download multiple caches at once and group them with a common name.