Is S/4 HANA 1511 released?

Yes.  S/4 HANA 1511 released last month for US and Germany.

1511 means (November 2015)

About SAP S/4HANA, On-Premise Edition 1511
The most recent and comprehensive version of the SAP S/4HANA on-premise edition

With SAP S/4HANA (SAP Business Suite 4 SAP HANA), on-premise edition, SAP is providing a new product and a next generation of business applications. With the delivery in November 2015 ('1511'), enterprises can benefit from innovative use cases in core financial and operational areas e.g. Materials Management & Operations.

Key innovations include:
Optimized working capital with new accounts payable and receivable cockpits
Decreased stock buffers with simplified data model in inventory management for real-time, high-volume processing
Increased visibility with real-time stock and material flow insight
Reduced manufacturing cycle time with streamlined material flow for internal requirements (MRP)
Augmented reactivity with real-time monitoring of production orders regarding flow and critical issues
Improved operational decisions with easy simulation of supply alternatives
Lower procurement costs with standard integration to the Ariba Business Network
Better customer service with new sales order fulfillment cockpit for instantly identifying bottlenecks and issues
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