Laurel, it's not sold out from what I can see. I was able to see different colors on Nordstrom's website this morning; unfortunately, the reason is because I put on my black lace peplum top and then realized the lace on the sleeve is torn, so I ordered another. Just search for Bobeau Peplum and you should see it!
The lighter weight version didn't have as much structure as I wanted. Thin knits are more likely to show lumps and bumps, bra seams, etc. and I liked that the medium weight top had a little more structure to it.