Is this a new menu?

I didn’t know about this menu. You get it by pressing CTRL+F in edit mode.

Isn’t bevel on W menu too?

Yes, it is new for 2.46. It was needed when UV face select was merged into Edit mode, and Bevel is on both this and the old W menu.

It’s ok the menu but i think it could confuse a little having duplicated options like bevel or triangulate wich is CTRL+T as indicated.

Lovin the bevel by the way!