The ‘news’ button which has mutated to the ‘blog’ button in the trunk, isn’t a widget. It just uses your theme’s index.php template to list the recent blog posts on your blog. Whatever ‘index.php’ does in your theme that’s what you see.
Updating to the most recent trunk gets you updates for everything in the bp universe. This is wide and vast as you know. Your dishwasher will probably run quieter also.