The font is indeed Trajan Pro, but I don't think it's freely available. I know that text is preferable to images, but sometimes a compromise is required.
I'm not a fan of the blur around the drop-down menus, myself. Part of the problem is at the corners - it's essentially a round blur for a rectangle. But the colour is a bigger issue, I think. Drop shadows should look like shadows, i.e. dark, in my opinion.
Other small feedback:
I think the font colour of Content, About, Community and Highlight when they are moused over should stand out more from the turquoise.
The actual menu boxes (VII Compendium, Fan Works, Non-VII Translations etc) seem to change size when they are moused over. The rest of the content on the page also moves down a fractional amount. I'm sure neither of those are the intended behaviour.
The menu colour looks good as it is. I had used a green colour in my draft but I think I actually prefer the dark grey. I also think it looks fine without the materia orbs, which should probably only be used in the content itself, for lists of links or things which are happening right now.
And some general, non-designy questions:
Do we want the "about" menu to be second from the left? I think it would be better last.
Are we going to have anything else besides "News & Updates" in the Highlight menu?