This is a WDTV Live firmware; not the original.
* Added more USB WLAN adapter support. Click here for list of compatible adaptors.
* Added cover art display function when viewing music files in album view.
* Added user selectable on/off for fade in and fade [...]

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 [...]

After months of inactivity a new release is finally out!  Remember, this is still a beta release.  Here’s whats new:
Resolved Issues:

Resolved issue where UI Language displayed as OFF when English is selected.
Resolved UI issue where “ContainsWWW” shows up in the search menu instead of “Contains”.
Resolved MKV audio/video sync issues.
Resolved issue where songs were displayed in [...]

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 [...]

Sometimes the latest Firmware (Official or Beta) isn’t working right for us. so here’s a step-by-step instruction on how to Revert back from the previous Firmware that you had…
1.Use USB FLASH KEY from 64mb upto 2GB. I recommend upto 2GB but you could also use bigger ones but they using different adressing model
this could be [...]

Firmware installation is the same for both official and unofficial (WDLxTV) firmware updates. Just follow these easy steps and you will be updated no-time.

How to update your WD TV HD Media Player

1. DOWNLOAD
Download the firmware update.
2. COPY
Open the .ZIP file and extract the two files (.BIN and .VER) to your USB drive’s main directory.
3. CONNECT
Connect [...]

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 [...]