It is as current as WE (everyone) makes it.
Remember, the RR database consists of all us users verifying data and then submitting it.
It is (usually) updated by Uniden (they pull data for Sentinel) every Monday. Oh, in RR, if shaded green, it is data that was updated within 24 hours. Yellow was updated in the past week.
And yes, we certainly add stuff ourselves when something new isn't in the database yet, or we have sniffed something out to monitor/submit.
(Some of us have sniffed out new stuff via the FCC. Then monitor, verify and submit to RR).
As to finding new....
Your question mentions "frequencies", however it is (can be) a bit more complicated than that.
Conventional uses "frequencies", but most of what'll be new nowadays is probably trunking ...(?)
Not knowing your degree of knowledge in regard to trunking makes it hard to answer your question any further.
If you don't know what trunking or a control channel is, I'd strongly suggest you start there, learn the basics (how trunking works), first. Then, we can go into using your new radio and discuss trunkgroups, and ID searching vs ID scanning.