UPDATE – This has now been released as the official firmware(known as 1.03). There are no differences between 1.03.01 and 1.03.
What’s New?
Prerelease 1.03.01 (includes all previously released updates)
Resolved Issues:
* Resolved the language displayed as OFF when English was selected
* Resolved the “Contains” button displayed as “ContainsWWW” in the search function
* Resolved MKV audio which [...]

Scott Rader has tweeted about a new WD TV firmware update coming soon.  This would be the first release in months from WD on their first media player.  There is no indication as to what will be on this new firmware release.  Here is the quote:
#WDTV we are working on the WD TV HD Media [...]

0.5.6.1
* app.bins are disabled during upgrade process (aka no rcS’s are executed)

0.5.6
* shaved 25s+ off boot time!!!
* rearranged boot cycle
* rewrote device mounting subsystem
* sane-ified crazyboot
* better hub support
* all media files can now show up in various media library enabled areas
*** requires file called .addMounts on root of device you’d like extra mounts contained [...]

Sorry, we’re a little late on this post.  WD has released 1.02.10 Beta to the public with a few bug fixes.  Here is a quick rundown:
“What’s New?
Prerelease 1.02.10 (includes all previously released updates)
* Greek subtitles render slowly in Greek character encoding mode; subs render properly now * Korean subtitles disappear during the video [...]

After about a month off, WD has finally released a new beta firmware today.  It hasn’t been officially added to their prerelease site(as of the time of typing this) but it is available on their server.  From the readme:
Bugs fixed in 1.02.08:
-Some characters still missing from Greek font
-VC-1 MKVs playback poorly
-Audio out of sync during [...]

WDLXTV is a souped up unofficial firmware for the Western Digital WDTV, based off of the official 1.02.07 firmware. Changes include:

* OSD tweaks
* changed now playing view format
* added selectable 4, 6, 8 item list view (default=8) (via shell: config_tool -c THUMBNUM=X)
* added selectable 4, 8, 12 thumb browse view (default=12) (via shell: config_tool -c [...]

If you head over to the WD TV website, you will see that 1.02.07 has been brought out of beta, sorta.  This version appears to be the same as the beta release with no new fixes, but that hasn’t been completely confirmed yet.  The release notes also are the same as when it was in [...]

Western Digital’s latest beta has arrived, only a few days after the last beta, with a few minor fixes.  Fixed items and additions:

Added option to toggle subtitle default to ‘On’ or ‘Off’
Added subtitle outline thickness selection
Added hard drive spindown on WDTV power off

Download here
Discuss this topic in our forum
This is a prerelease version of the [...]

Following the official WD TV new pre-release B-rad released a new version of his WDLXTV firmware. More info at http://b-rad.cc
Changelog WDLXTV
0.4.3.1
* NFS/CIFS/XFS/reiserFS mounting fixed.
0.4.3
* now based on 1.02.03 !!
* screen_saver shrunken for size

VN:F [1.7.2_963]Rating: 0 (from 0 votes)

B-rad released new versions of both his WDLXTV firmware as the DVDMOD. More info at http://b-rad.cc
Changelog WDLXTV
0.4.2
* fixed OSD sluggishness
* corrected freezing setup->about screen
0.4.1
* all OSD images are back to original size
* once again removed fsck_hfs for the space (download core-extras.app.bin)
* OSD tweaks
DVD mod Changelog:
0.4.1
* 1.02.00_DVDMOD now available
* Pennhaven’s screen saver image included on 1.01.02 [...]