Yes, it's here! You can edit your photos in batch mode.
Here is how it works.
Log in so you can see the Tools menu option on the top menu bar. From there, click on "Batch Edit Photos". You will then be presented with your photos as thumbnails. From there, just start checking off the check box underneath of each photo you want to edit. If you have a lot of photos, they will be spread out over several pages. You can navigate the pages with the buttons at the bottom. Once you have selected the photos you want to edit in batch mode, click on the Submit button located at the bottom of the page. You will them be shown a page with all the data you can edit and all the selected photos underneath. Fill in the fields and when done, click on "Apply Changes" at the bottom of the page and your changes will be applied to all the photos you selected.
Take note. The exact same data will be applied to all photos. Only data you fill in will be changed. So for example, if you just change Status, only the status will be changed on the photos an not the other fields.
Be careful not to change status to Delete unless you really want to. There is no undo.
You can also create a Collection on the fly which will have all the photos selected assigned to it. Furthermore, if you have multiple collections, you can place all the selected photos in more than one collection by selecting the multiple collections from the drop list of existing collections.
As always, please report any bugs you encounter.