Look at this screenshot of the recently released Gobby 0.4.90. See that nice yellow arrow in the toolbar? Yes, this means we finally have Undo/Redo support. It was a really good feeling having closed bug #39 
Gobby 0.4.90 is the first release in the 0.5 series, and 99% of the code have been rewritten from scratch. It is not yet 0.5.0 since it does not yet contain all the features that previous versions had (for example, it does not yet support self-hosting or password protection). However, removing the integrated chat was a design decision, since there are so many other possibilities for communication, including VoIP. As it supports removing documents, only use it with people you trust enough not to delete all your data.
Gobby 0.4.90 does no longer use obby or net6 as backend libraries doing the hard work, but libinfinity, implementing the Infinote protocol. libinfinity is not yet stable API and ABI wise, and probably will not be for still some time. libinfinity contains a dedicated server, called infinoted that Gobby 0.4.90 can connect to.
You can safely install the new version since it is parallel-installable to previous Gobby versions. But please consider everything as very experimental. Things may crash or otherwise behave badly. Report bugs if they do. We set up a playground server on dalaran.0x539.de if you want to test the new version without having to install server yourself.