Since there seems to be a lot of issues with latest release (7.x-1.6) as we need to update two modules at the same time and automatic updates cannot handle that we need at least to make it easier so sites don't crash.
Issues that should be fixed by this release (though most of them are basically the same, wrong version of either variable or i18n):
#1652564: Fatal error: Call to undefined function variable_realm_initialize() in [path]/18n/i18n_variable/i18n_variable.module, line 17
#1661996: Pathauto module disappear after upgrading to 7x-1.6
#1616856: Fatal error: Call to undefined function variable_store_list_all() in i18n_variable.install, line 66 (update #7003)
On variable side:
#1660798: How to update 7.x-1.2 to 7.x-2.0
#1643512: Fatal error: Call to a member function getDefaultWeight() on a non-object in variable_realm.module on line 548
#1649928: Fatal error: Call to undefined method VariableRealmDefaultController::setWeight()
#1661022: Can not add email, theme or other group variables to the language realm
Patches are already committed so all we need is some testing before we can release a new version.