Matt Cutts Google's head of search spam announced the Penguin update coming this year, which will be soon in few weeks through his twitter account.
Matt Cutts said, "we do expect to roll out Penguin 2.0 (next generation of Penguin) sometime in the next few weeks."
The next generation Penguin update a major chenge to the existing one. Matt said the previous ones were minor updates. Matt though his twitter account said that those were more minor, he would have named them 1.1 and 1.2 and that Google has named its update as version 2.0.
This is 4th update to Penguin but this will make a great impact. Many SEOs and webmasters have not overcome on previous Penguin Update.
Matt Cutts also added through his site that if there are spammy sites you can report it to Penguins Spam Report .
It's a special guide to all SEO and Webmasters to stop their campaign for a while which will be good for them to stop letting their sites as spammy.