What is the "Volatility" factor listed as and when will it start for prospective draftees?

As each league hits the next offseason they will be moved to the new game engine, including the volatility rating being shown. If I understand it correctly this rating as always been there, just now that rating is going to be visible.

What game engine version will be the "New" one?

Game Engine Version 0.4

Thank you lellow :-)

Dude, it's always been there. It's just not been visible. ;)