A new major release was created for the newer versions of JQuery. (See #728182: Will there be an update to the current stable version of Jquery UI? Sliders in admin?).
This version requires jquery_ui and jquery_update and brings support for the newer versions of jquery and jquery_ui for the threshold administration.
This module currently requires jquery_update 6.x-dev because it is the only one that comes with JQuery v1.3.