Currently (unless I'm missing some setting) the highest chapter number is seen as the most recent update and thus displayed in orange between parenthesis.
What this does not account for is that chapters could start from 1 again once a new volume starts making it show as if you are nowhere near the latest release and seeing as you get the option to reset chapter count on incrementing the volume this is something that is known.

The suggestion is to show the highest chapter of a volume rather than highest in general with highest in general being used if a volume does not yet exist or if the volume is set to 0.
Edit: Or for the highest chapter number of the highest volume to always be shown instead (v.3 c.120) as an example.
I am unaware if this has been suggested before or if there is some technical limitation that would stop this from being possible.