This paper summarizes the current status of version 2 of the Open Lexicon Interchange Format (OLIF). As a natural extension of the OLIF prototype (OLIF version 1), version 2 has been modified with respect to content and formalization (e.g., it is now XML-compliant). These enhancements now make it possible to use OLIF in a variety of Natural Language Processing applications and general language technology environments (e.g., terminology management systems). At the time of writing, several industrial partners of the OLIF Consortium had already started work on implementing OLIF support. Details on OLIF can be found on www.olif.net.