There are only two words about each change. Also it includes changes not related to library usage. For example:

Fix Bicubic interpolation

Actually, bicubic was not broken, because im.stretch was newer used with bicubic before.

Fix antialias compilation on debug versions of Python

This bug was introduced in master and was newer in any of release or beta versions.

Ico save, additional tests

Additional tests not change in library itself, not that would be useful or interesting to users.

I'm not speaking about ideal Django changes for each release. But look, at original PIL changes, it full of details. One example:

Added NumPy array interface support (array_interface) to the Image class (based on code by Travis Oliphant).
This allows you to easily convert between PIL image memories and NumPy arrays:

import numpy, Image
im = Image.open('lena.jpg')
a = numpy.asarray(im) # a is readonly
im = Image.fromarray(a)