"It appears that the Drupal release script is not updating the page, so you can get the latest release"

I've fixed this for you by setting 4 as "Major version" on http://drupal.org/node/189565/edit/releases .

Instead of module-5.x-1.0, module-5.x-1.1, module-5.x-1.2 it seems you are using module-5.x-1.0 module-5.x-2.1 etc. I suggest to reread http://drupal.org/handbook/cvs as it appears as if you mark every new release as a new major version / branch.