The biggest and most scary change IMHO, is libraries that ship with django-south migrations. I have at least one library that does this (django-simple-captcha, currently stuck in NEW).
I think django-south still works with Django 1.7 (????), but is considered depreciated compared with the Django 1.7 built in migrations.
The problem being that the newer migration mechanism is not compatible with the previous mechanism.
How we deal with this probably will require more consideration here.
This seems to be a really good blog post on the issue: http://treyhunner.com/2014/03/migrating-to-django-1-dot-7/ - where Trey recommends renaming the existing migrations directory to south_migrations, and setting SOUTH_MIGRATION_MODULES.
Which is unfortunate, it means the decision has to be made in the library, but the SOUTH_MIGRATION_MODULES has to be set in the application.