We've just released Android Studio 0.8.5 to the canary channel. Version 0.8.5 contains only bug fixes relative to 0.8.4, primarily in the new Android project view introduced in 0.8.4. Thanks for your feedback and keep it coming!
If you are already running Android Studio version 0.8.x, just restart it, or manually check for updates via Help > Check for Update... (on OSX, look in the Android Studio menu). This will download and install a small patch rather than download a full IDE image. If you are using an older version, you'll need to download a full install from the downloads page.
NOTE: 0.8.5 is currently only available in the canary channel, and Android Studio Beta will by default only look for updates in the beta channel, so if you want to update, open the preference dialog, go to the Updates category and change the channel setting.
If you run into problems, be sure to check the Known Issues page which we'll update as necessary
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