I think one of the main areas that improved in LLVM 7 relative to LLVM 6 that Rust cares about is better support for WASM in LLD.
LLD has implemented --gc-sections for wasm
LLD has implemented DWARF debugging information sections for wasm
LLD has natively implemented concatenation of custom sections for wasm
LLD has gained the ability to place the stack first in a wasm module's memory layout, reducing the corruption that happens on a stack overflow
LLD option to not merge data segments
Some SIMD generic float intrinsics have been fixed
LLD optimizing further the size of release binaries
LLD supports @-file syntax
Other things which mention LLVM 7 in the Rust bug tracker:https://github.com/rust-lang/rust/issues/52457 "use funnel shift intrinsic to implement rotates"
https://github.com/rust-lang/rust/issues/52323 "emscripten already supports the wasm backend in LLVM7, so we should move the current emscripten-llvm from version 4.0 to that, so that we can remove all the workarounds lying around for LLVM < 5.0 (LLVM 5 is the new minimum supported version)."
https://github.com/rust-lang/rust/issues/49740 "Use separate memcpy source/dest alignments in LLVM 7"
https://github.com/rust-lang/rust/issues/51872 "Simplify u128->f32 casts thanks to LLVM r334777"
edit to add: rustc stable 1.29.0 already uses LLVM 7, and nightly is already using LLVM 8; rustc frequently switches to the new LLVM release when it is branched, it doesn't wait until it is released:
$ rustc +stable --version --verbose
rustc 1.29.0 (aa3ca1994 2018-09-11)
binary: rustc
commit-hash: aa3ca1994904f2e056679fce1f185db8c7ed2703
commit-date: 2018-09-11
host: x86_64-apple-darwin
release: 1.29.0
LLVM version: 7.0
$ rustc +nightly --version --verbose
rustc 1.30.0-nightly (79fcc58b2 2018-09-18)
binary: rustc
commit-hash: 79fcc58b24d85743d025fd880fca55748662ed3e
commit-date: 2018-09-18
host: x86_64-apple-darwin
release: 1.30.0-nightly
LLVM version: 8.0