No sadly they do not i beleive they were patched in Beta 1.8 if you are interested in them though Kurtjmac does a series called "Farlands or Bust!" On youtube (http://m.youtube.com/user/kurtjmac) in which he has been walking since June 2011 in Beta 1.7.3 as he raises money for child play charity. I don't know of anyone doing a similar thing so I beleive this is one of the last current events that include the farlands Also I do know that it's about 12 million blocks away
