There are now two tray handles for viewing applications. The left tray is the existing all application view we are all used to.
The other new tray is a view that shows a combination of apps you have recently run (most recent on top) along with currently running apps. It even shows what apps are running as services. The recent/running apps tray color codes the application name as follows:

* Red = Application is currently running
* Yellow = Application is not running, but it is running as a service
* White = Application is not running anymore