The fork of OpenWatcom has refreshed (2/20/2014) their version 2.0 of the C, C++, and Fortran 77 compilers. It appears that the improvements in this fork are mostly related to other platforms (DOS, 64-bit Windows and Linux), but OS/2 installers are available. Meanwhile, OpenWatcom proper is still (6/5/2010) on version 1.9; the most recent activity in the Perforce depot was last November.
Source: OS/2 Warp News and Rumors