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The current stable release is 2.1.12, which you can get at the download area. There are no binaries available, you need to build it before running it.
Don't worry - this is really easy if you follow the instructions in the INSTALL.txt file that comes with the distribution. You just need to install a JDK (1.3.x, 1.4.x or 1.5.x) before, which is needed anyway to run Cocoon.
What, no binary 2.1 release?
This was discussed at length on the cocoon-dev mailing list, see
The main reason is for build-time selection of which Cocoon components ("compile-time blocks") whereas runtime selection/activation of blocks is much harder to implement. It is aimed to have that implemented in one of the next versions of Cocoon.