As far as I know, the levels still only go to 50. With all of these add-ons and things (Celestia, the Pet Pavillion, etc.) I think that the levels should increase by... maybe 10 or so, so the level 50's don't eel like they are just running out of things to do.
Wizard101 has added 10 more levels! Level 50 players will see the return of their experience bar. Level 50 players can once again earn new experience from quests and duels.
With this level cap increase, come new Rank 8 Spells! These spells are available at level 58, but only through a quest from your Professor, so watch for those ToolTip messages! The rest of the new spells you'll have to discover on your adventures!
You will not receive experience from prior quests and duels that you completed when you were level 50.
If you want the prize, you have to build the ladder rung by rung. There are no shortcuts.