Besides support for Yosemite, the update is relatively minor, bringing bug fixes along with an enhanced group profile, which Microsoft says will make it easier to copy a link or leave a group conversation.
If you're already running Skype, you can check for the update by opening the Skype menu on the Menu Bar and selecting "Check For Updates."
What do you think of Skype 7.1? Shout it out in the comments.
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Source: Skype Blog