I've just installed new ConTeXt (ver: 2006.08.08 21:51) under SuSE 10.1
How did you install it? What was there before? It sounds like the new one isn't visible, since it's date is 2007.01.12 15:56 (or maybe later). Is 2006.08.08 the version that came with SuSE? What does kpsewhich cont-new.tex do? And what's the modification time of that file: kpsewhich cont-new.tex | xargs ls -lt Also try 'locate cont-new.tex' and see where they live, and maybe also kpsewhich cont-new.tex | xargs grep -H '200[67]' to see the filenames and the versions they think of themselves as.
When I try to run [texexec] I get this error message:
How are you running it? You might also try Peter's new texlive rpm http://wiki.contextgarden.net/TeX-live -Sanjoy `Not all those who wander are lost.' (J.R.R. Tolkien)