I know you won't answer this, but do you think it will come to Kaleidoscope faster than it's come to Versions? (how long has Versions been out? 2 years?) Or, when it comes to Kaleidoscope, will you use that functionality in Versions?
I started typing a really long reply yesterday, but you're right, there's not a lot we can share in public about our plans right now.
One thing I do want to share is that SVN merging and text merging are completely different problems. Both would be great features for either app, but there's not a lot they could share implementation-wise.
SVN merging means dealing with the pre-defined features and limitations of SVN (both a pro – it already works – and a con – it is really hard to make something within the contraints of SVN that's not too error-prone and easy enough to use).
For text merging, we'd get to work on a completely 'new' problem, the only systems we have to code against are the file system and the cocoa text system.. More work maybe, but 'easier' to create something excellent.