This is really a bugfix release. Release 1.2.0 had a problem with azzyzted projects created by earlier versions. It tried to upgrade gracefully and failed miserably :)
1.2.1 has been tested with the cookbook application as generated by 1.1.1 and 1.2.0. In both cases the upgrade works.
Two user-visible changes are, that Azzyzt now generates a new project called "azzyzt_tools" and that there is a new file "EarContent/META-INF/azzyzt.xml" in the EAR project. You can ignore them by now, later on they may become useful. "azzyzt_tools" is not packaged into the EAR artifact, it is only used by the Azzyzt JEE Tools plugins during code generation.