As of 7/12/12 Hi-Fi Version 2 has been released and all themes are compatible with Canvas 5. If you are a current theme user, here is more information on upgrading your theme.
Canvas 5 the Hi-Fi Parent Theme Framework was just released today. This was a major release, which includes a responsive design and new slider function Do not update to Canvas 5 until we have had a chance to test all themes with this version.
We will be making any necessary adjustments in the next couple of weeks and updating all child themes. We will notify you when that work is complete, so you can then make any upgrades. Please do not upgrade to Canvas 5 before we have had a chance to update the child themes.
A current copy of Canvas 4 is available on all Theme Pages in the meantime.