Limited watch faces. And more importantly, the Play/Pause music controls have been disabled since the latest update (per MetaWatch Support.) It’s been over a month now, since I emailed them about this issue, and still no updates to the app to fix it. This limits the functionality of the app and the watch… Hopefully they will fix it and add more features (and watch faces) once IOS8 comes out!
Dontwannamakeanickname about MetaWatch Manager for iOS