Has the sf2turyu rom set been released? If so, how is it different than the original Street Fighter 2, if at all? If it has been released, where can I grab it and will it work with Nebula? That was the only added rom set that I've never heard of as the other ones were the M hacks found in Nebula and the rest were Neo Geo games.

So, apparently only Razoola and maybe some other emulator programmers (i.e. ElSemi) have this rom? Does anybody know if they plan to release it? If so, any guess as to when?

It's been released. I found the news on the RomShare forum. You can grab it here. There's another hack (not for Kawaks dev) that should work with Nebula and Kawaks w/ loader. Its name is sf2turyu1 and you can grab it here.

kawaks 1.48/dev doesn't recognixe the ROMs

It should recognize sf2turyu, but I haven't tested. It has the correct CRCs. Make sure you have CPS-1 &/or CPS-2 roms checked and it SHOULD show up. Sf2turyu1 won't be recognized, though. Its rom names are different and so are the CRCs.