Penguin World was developed by BitRhymes, the developers behind Wild Paradise (which peaked at a MAU of 340,000) and it appears that they have learned quite a bit about the space. This new title has all the basic components of a good social game, but probably has a huge hill to climb since it is competing head to head with Zynga, Playfish, and all the other developers who have released a digging-style game.
In Penguin World, you have your home island and it has a shell that contains your specified color. You can decorate this island and do with it as you please. You have a map that looks eerily similar to Treasure Isle's, which allows you to travel to new islands. On islands, you dig up squares and try to find treasure in the form of collections. Once you clear out one map, you move on to the other. You can visit neighbors (referred to as your 'rookery') and collect items from them, so nothing new and exciting there.
Where Penguin World does bring something relatively new to the table is through minigames. There are two minigames available when you interact with islands. You can jump into pools of water (shown above) and play a swimming game in which you dodge mean fish and try to pick up as much gold as you can. There are also enemies on islands, such as a polar bear, and to fight them you have to complete a snowball rolling game that is also present in Club Penguin. It should be noted that Treasure Madness also has small minigames, although they're not disguised as battles.
Play Penguin World on Facebook >