Limited Functionality
If you're PPC developer, you should know that for a given software the PPC versions can hardly be 100% functional as the normal, desktop versions. KeePass PPC is not an exception of that rule - the desktop version has much more power than the PPC version. It's prettier, it has more gadgets and style. Here I will try to explain the differences between the PPC version and the (current) desktop version of KeePass.

What PPC version lacks
At the moment, these features exist only on the Win32 version:

• Entering and modifying hierarchical groups.
  Both versions support well non-hierarchical groups. However, if you have tree of groups, you will not see (for now) that tree in the PPC version. PPC version honours the tree data, it will not destroy it, but it will not show the group tree as well. The groups in the PPC versions are "flat".
• Time stamp fields.
  The PPC version does not support editing of the time-related fields. All time-related fields are initialized correctly (last-edited, creation time, etc), but editing of the time fields (expiration date/time for example) is not available.
• Password generator is based only on standard pseudo-random sequences. The mouse-move enhancements (or keyboard-entry enhancements) are not implemented.
• No files can be attached to the items. Existing attachments are preserved, but they cannot be accessed in any way.
• No multi-language support. For now, KeePass PPC is an English-only application.
• Clipboard automation (clearing clipboard after N seconds) is not implemented. Keyboard shortcuts (copy username to clipboard, copy password to clipboard etc) are not implemented.
• Passoword-files are not supported. Only user-entered password is supported.

Conclusion
The whole idea around current KeePass PPC is: it should serve as a helper application, which can view your stored passwords, you could enter new passwords etc., but you usually should use the Desktop versions for any serious editings. The PPC version has the big plus that it's always with you and you can always retrieve the needed secret data. However, for the most frequest use still KeePass Desktop should be preferred.

Update Description:
v0.4.9:
- Update to KeePassLibC V1.14.

v0.4.8:
- Update to KeePassLibC V1.13.
- Update to Boost C++ Library V1.36.0.
- Fix use of precompiled headers and enable whole program optimization.
- Disabled Word Completion for password entry fields in GetMasterKeyDlg, ChangeMasterKeyDlg and EntryDlg.
- Added option to switch between 'idle timeout' and 'exit on minimize' behaviour.
- Added option to disable auto exit for power events.
- Cleaned up header file includes.
- Cleaned up registry strings.

v0.4.6:
- Updated to KeePassLibC v1.10.
- Reworked FindDlg.
- Added option to allow exclusion of Backup folder from find.
- Added KeePassLibC Version to AboutDlg.
- Changed default filter for Key Files to *.*

v0.4.5:
- Added Key File support.
- Updated to KeePassLibC V1.08.
- Aligned password generator dialog with KeePass.
- Password generator uses functions from KeePassLibC now.
- Added option to enable/disable password preview in EntryListView.
- Removed obsolete brief-tag from comments.
- Aligned default password groups with KeePass.
- Reviewed strings in source code.
- Cancelling FileSaveAs dialog no longer results in losing the current database name.

v0.4.4:
- Port to use KeePass v1.07 encryption library.
- Added support for Windows Mobile 6 Professional.
- Use CNewRandom in PassGenDlg to improve randomness of generated passwords.
- Merged from VVit.
    >> New location of OK and Cancel button.
    >> "Copy Name", "Copy Password" and "Loop for reentering the master key".
- Improved "Copy Name", "Copy Password" and "Loop for reentering the master key".

v0.4.3:
- Second try to fix the SmartMinimize button.

SOURCE

http://keepasssd.sourceforge.net/

Reviews:

***** [Jan 15, 2009] by Greg using HP hx4700
To JP using AT&T 8525, re: desktop interface to synchronize your desktop version with the PPC. I just keep my *.kdb file in ActiveSync synchronized My Documents folders - works like a charm :-)

***** [Nov 8, 2007] by JP using AT&T 8525
KeePass is a great product to have with you when not near your desktop/laptop and you need to have access to key confidential information. It is easy to use, however, one thing I would love to see incorporated in this product would be a desktop interface to synchronize your desktop version with the PPC. I believe KeePass is a great product and the developer deserves recognition for it.

**** [May 4, 2007] by Jake using IPAQ RX1950
I use Keepass on PC to store the zillion passwords that we are blessed (cursed!) with. When traveling I needed a similar capability on the PDA. This package fills the bill admirably. User interface is different but, once over the learning curve, can transfer the PC file to the PDA and use same password to get to the data.

**** [Jan 17, 2007] by IceDragon using HP iPAQ RX3715
While lacking some convenience features such as moving entries from group to group or making copies of entries (which is available in the Desktop version of the software), I found it a very good solution to the storage of login information and passwords. Perhaps the most powerful aspect in KeePass is that it's cross-platform - there are programs available for editing exactly the same format for Windows, Linux and the PPC, making it easy to keep everything in one database - in one file. Great work, guys.