http://dld91.winmx.com/45654935842241/winmx354beta1.zip
There is no formal installer with any beta versions. Simply take the WinMX.exe file out of the zip, and either drop it in your C:\Program Files\WinMX (rename the old exe first so you can restore it later) so it works on the same config as your copy of 3.53, OR put it into it's own folder (doesn't matter where) and run, which will create a new config.
What's new in v3.54 beta 1
Completely new Library component. The new component's features include fully asynchronous file and folder scan on separate background thread, video file meta info, full recursive operation, selective sharing, and several other major improvements.
PLEASE remember this is BETA edition software. We have tested it to a limited degree already, but there still may be significant problems. Like ALL versions of WinMX, you run it at your own risk. If you feel uncomfortable with this, or are unsure of your expertise with WinMX, please reconsider participating in the test and wait for the next fully tested release.
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