At Ætherical we're working on the following projects:
Warehauser
Warehauser is a data warehousing application/framework which provides a pluggable architecture for data gathering, extraction, transformation, loading, and reporting. At present it works with vmstat and ps data, providing the ability to trace a process' resource utilization throughout the process' lifetime.
Machines, Monsters, and Madness
Machines, Monsters, and Madness is an empire building game in a Steampunk setting. Initial release in Feb, 2008.
Ruby Spellchecker
This is a series of articles and classes with the goal of building a pure ruby spell checker.

Rails Plugins

We also have created a variety of plugins for the Ruby On Rails platform.
pretty_accessible_form
This is based on A List Apart: Articles: Prettier Accessible Forms and provides helper methods for building prettier accessible forms. More information can be found at http://docs.aetherical.com/plugins/pretty_accessible_form.
stylesheet_include
This plugin adds helper methods to find and include stylesheets from plugins. More information can be found at http://docs.aetherical.com/plugins/stylesheet_include.
abacus
Abacus provides more calculation/aggregation methods to ActiveRecord. More information can be found at http://docs.aetherical.com/plugins/abacus.
beautiful_figures
This plugin adds helper methods based on If I Told You You Had a Beautiful Figure.... More information can be found at http://docs.aetherical.com/plugins/beautiful_figure.
find_or_create
This plugin extends the ActiveRecord behaviour of find_or_create_by_COLUMN where COLUMN is the name of a model's column. It allows you to specify multiple conditions on the find_or_create. It can be downloaded from http://code.google.com/p/find-or-create/
acts_as_tagged_tree
This plugin maps an acts_as_taggable to an acts_as_tree, with the head of each tree being the tag. It can be downloaded from http://code.google.com/p/acts-as-tagged-tree