On May 09, 2013 smplayer 0.8.5 has been released. http://smplayer.sourceforge.net/changes.php
Current 0.8.4-r1 ebuild works fine (with the exception of the icons download URL). However, before bumping the ebuild, please take a look at bug 469630 and bug 469628 for skins interface, which is the default GUI with SMPlayer 0.8.5. I suggest adding "+skins" to the 0.8.5 ebuild to reflect the upstream default.
(In reply to comment #1) > Current 0.8.4-r1 ebuild works fine (with the exception of the icons download > URL). Note that the fixed icons did make it into .5
Committed, thanks!