Panda and Penguin are just further adjustments to Google's overall outlook to deliver perfect search results. They will never "stop" being implemented- it's best to imagine them as just small steps towards Google's overall goal. WebDev
Nobody can be 100% sure but those updates certainly cleaned some of the spam sites so I imagine Google will implement this into their algorithms permanently which is a good thing.
No Google not Finish panda version. It recently update new version that is Google Panda 3.9.1 on 20th Aug 2012