The Engine overhaul is more focused on the general data (like where does it rain, where is it windy and so on), but no update for turbulence itself.
The second question about thermals was actually from me and they didn’t really answer it, only they gonna work on it later and mentioned the glider developer. So the best bet is: turbulence, up/down drafts, thermals gonna be introduced next year together with the glider release, because they have to update something to make them work within the sim (but could be by the end of next year, just like the helicopters).
We gonna get more information with the next Dev update this thursday, because my thread Thermals, up & down drafts - realism update needed! made it into the top 50