Features:

General:

Create unlimited teams of pets and quickly switch between them in the pet journal.
Reliable pet switching even when spammed with requests to change teams.
The skills in the tooltip are the saved skill selections
The frames location is now saved.
Pets are saved to your current team as you make changes, no more hitting save. (This behavior can be disabled by unchecking "Automatically save teams" in the options).
Teams can be named, deleted or locked by right clicking the team.
Additional options are available from Game Menu -> Interface -> AddOns -> PetBattleTeams

Main Frame:

Teams are displayed to the right of your pet journal in the pet battles team frame
The star denotes your active team.
Swap pets between teams by dragging and dropping! Add pets from the pet journal directly to teams, or swap within your own teams.
copy pets by holding shift while dragging the pet to copy it to another team.
reorder teams by control - dragging a pet.
Displays your pets levels, quality and health, icon at a glance
Each pet in a team can be moused over for additional information.
The active team is now displayed at the top of the frame.
Teams with gold borders are locked by the user.
Locked teams cannot be modified.

Slash Commands:

Usage:

Click the pet battle icon in the upper right to access the lock and attachment options
Press the + button to create additional teams
Right click a team to delete|rename|lock it. There is a confirmation before deleting to prevent accidents.
Left click a pet in a pet battle teams frame to make that team the active team.

PetBattle Teams