The Equinox 4.7 release continues to focus on implementing the latest Core OSGi specification and selected OSGi Compendium and Enterprise services. The final OSGi R6 Core specification went final in June 2014 and can be found here. The OSGi R6 Compendium and Enterprise specifications went final in July 2015 and can also be found here. The Equinox 4.7 release includes a full implementation of the R6 Core Framework as well as several compendium and enterprise service implementations. Many of the Equinox specification implementations from this release are used as the Reference Implementations for the OSGi R6 specification.
The OSGi R7 specification is currently underway, but the final release date is not set and may get delayed beyond the Oxygen.0 release date. Equinox 4.7 (Oxygen.0) will remain at the OSGi R6 level of the specification.