Build − executable or a library created by compiling source code.
Version − a software build. New version is a different build.
Release − (public release) a version intended for use by general population.
Build #465832567 is just the number of times the main developer compiled the program (or library). Sensible developers only release builds with meaningful and tested changes.
Version 2.1.5 means it's the second edition with at least 1 major difference from its 2.0.~ predecessors and 5 minor feature updates or bug fixes.
"Public release" usually means it's a version for normal users who are not involved in testing or development of the software.
Aurora − so called "alpha" version, which includes latest additions, some untested
Nightly − "beta" version for developers and enthusiasts who don't fear bugs and crashes
Solution 2
I am not sure if there is a very concrete on these two terms, and the definition seems also differs base on context.
Normally Release is more about the "action" to distribute the software to interested candidates, while "version" is an identifier of certain snapshot of the software (mostly a meaningful snapshot).
Therefore, in most case, as we need to identify certain release of the application, we will have a version assigned. (There are always exceptions anyway...)
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