That release is sadly pretty ancient. I've been too lazy to update it. There is a newer update available, however.
Though, I suspect you are updating your database through CVS, as the db_version table is something I added in the Rev278.sql update. That is the best way to keep yourself up to date. Remember to source in all of the files in the updates folder from the point you started (So, 278 which means you need to source in 2 more updates) Keep grabbing your DB from there.
Get your binaries from SVN:
http://code.google.com/p/projecteqemu/downloads/list
And your quests from CVS:
http://sourceforge.net/cvs/?group_id=127915
And you will be kept up to date, with all the content we currently offer. I know it's a pain in the ass grabbing from three different sources, but they all are different projects, really. I might be willing to add a packaged up version of quests to the DB CVS if there is interest in that. The normal quest CVS will still be kept up to date, as that is an integral part of the PEQ system if I choose to do that.