No recent development, but work is really needed!
This is a GREAT concept. HyperEdit is a cool app that is a good complement to apps like Espresso and Coda; however, it is really lacking in a few areas.
First, there is a large learning curve as compared to simply editing PHP and posting on your server (or running against your local server). If you are looking for instant debugging, you may be a little disappointed.
Next, the design of linked files and tracking grouped projects of files is not where it should be. Maybe Im just so used to version control systems that something without basic grouping features seems primative, but thats just how I see it.
Finally, the app needs some work and it appears to be off the radar for new features and updates.
Pros: still a great concept, if it is updated it could be a perfect tool in your developer bag of tricks. The price is right (now just $9.99, used to be $25 I think), and it does parse PHP in real time.
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HyperEdit