I have see that the project homepage is on code.google.com but this repo
has been archived and read only:
https://code.google.com/archive/p/fbterm/

I think that the homepage is now:
https://github.com/sfzhi/fbterm

in here there is the new version 1.8

I see that also OpenSuse[¹] and other distro[²] (Rosa, SlackBuild,
SliTaxCooking) are using this new version.

Ciao
Davide

[¹]
https://build.opensuse.org/package/show/openSUSE:Factory/fbterm

[²]
https://repology.org/project/fbterm/versions