Matthew Weier O'Phinney just announced the release of ZF 1.12.4, 2.1.6, and 2.2.6 m with Security Updates
For more information, please read the official release announcement:
Zend Framework Released
Also, the ZF PEAR channel was updated to latest 1.12.4 release.
pear upgrade zend/zend
March 7, 2014 EDIT:
Zend Framework 1.12.5 was released, in order to fix a backward compatibility issue introduced in 1.12.4 release.
Release Announcement