Hi Fenwoman. Yes its still used, i am using some at the moment actually. It says on the box its an anti fungal agent with antiseptic healig properties. Effective against a variety of parasites including flukes (which is what i am using it for although i believe there are better things, this was all i could find in an emergency). It apparently also provides "rapid aid to respiration in case of distress". Again, I'm not sure how good it is, i guess it depends what you are thinking of using it for.
Methylene Blue is used primarily for superficial fungal or bacterial infections, and nitrite or cyanide poisoning. It is also considered to be an alternative to Malachite Green for the treatment of fungus and external protozoa in sensitive fish, eggs and fry. It is available under its chemical name or in products such as Methyblu® by Aquatronics. It too cannot be used on food fish, and is a powerful dye that may stain tank decorations and silicone sealant. Damage to plants and biological filter may also occur.
I always use Methelene Blue on my Corydoras eggs. I have never had a patch of fungus
since I started using it. Although don't use it on the main aquarium as it dies silicone and
airline tubing and various other decorations;.