Thermal spin transition (spin crossover), one of the most fascinating dynamic electronic structure phenomena occurring in coordination compounds of third row transition metal ions, mostly of iron(II), iron(III) and cobalt(II) with critical ligand field strengths competing with the spin pairing energy, has attracted increasing attention by many research groups. One of the reasons is the promising potential for practical applications. In this chapter we intend to cover essential recent work, primarily accomplished within the European research network on "Thermal and Optical Switching of Molecular Spin States (TOSS)". New spin crossover compounds and their thermal spin transition behaviour, also under applied pressure, novel effects observed by irradiation and magnetic field, will be discussed. Progress in theoretical treatments of spin crossover phenomena, particularly cooperativity, will be briefly outlined. The chapter concludes with a summary of research highlights published by the partner laboratories of the TMR network TOSS.