Copy paste from my email.
Note initial release is for Win 7 32/64bit, XP 32bit. Linux & OSX port will commence sometime 2011.

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Hello again, from the Lightworks Development Team
It has been an exceptionally busy few months as we move toward the first public release of Lightworks Open Source.

Since the landmark Lightworks Open Source announcement (April 2010), we’ve had over 1700 developers and 20,000 editors sign up for the program. With many new features close to finalization, we have embarked on a comprehensive beta testing program, putting Lightworks through its paces and the feedback we have received so far has been excellent.
Lightworks for FREE ... just in time for the holidays!
It is with great pleasure that we take the first step in the roll out of Lightworks Open Source and deliver the free download to you! On November 29th, the free download will be available exclusively to those who have registered. An email will be sent to you with detailed download instructions.

Lightworks developers have been working day and night to develop a variety of enhancements for the new NLE.


Application Features

Capture and Playback

* Edit While Capture, Firewire, SD (analogue and digital), HD-SDI with optional I/O cards
* Full-screen, real-time SD, HD, and 2K preview playback on desktop display, Dual HD-SDI and DVI for Stereoscopic playback

Editing

* Resolution, format and codec independent editing
* Edit at 23.976, true 24, 25, 29.97, 30, 50, or 60
* Advanced multicam editing with unlimited sources

Effects

* Real-time effects in SD, HD and 2K
* Field or frame based varispeeds*
* Keyframe graphs
* Effects layers with node-based layering tool
* Multiple real time primary and secondary color correctors

Tools

* Multitrack audio mixer with full bus routing and multiple mixes
* Customization templates for Avid and FCP shortcuts
* Voiceover tool for adding narration directly to edit
* Shot sync - sync two sources for playback comparison
* Customizable BITC timecode and film footage overlays

Film

* Support for 35mm 3-perf, 35mm 4-perf, and 16mm-20 and mixed film formats
* View feet and frames in edit
* View keycode and ink number
* 24-fps EDL import, export and conversion to and from 29.97 fps
* Import ALE, FLX, and CSV files
* Cut list, change list, optical list, pull list, dupe list

3rd-Party Support

* Inscriber Titlemotion, Boris FX, Combustion, After Effects, Premiere Plug-ins, Sapphire, Digital Fusion
* Support for any application that can exchange AVI, MXF and QuickTime files

Collaboration

* Advanced Shared Projects with real-time review*

I/O Support

* QuickTime, MXF, AVI, DPX, DV, DV50, DV100, H.264, Uncompressed, OMF, AAF
* Avid DNxHD*, Apple ProRes*, RED*, AVC-Intra*, AVCHD*, XDCAM HD*, XDCAM EX*
* Stereoscopic support for independent Left and Right files*
* Telecine 29.97i to 24p pull down removal
* 30fps and 25fps import to 24fps project


New Features

* New and intuitive user interface
* Basic wizard for user orientation
* Avid and FCP keyboard shortcut preferences
* Integrated help with indexed Lightworks User Guide
* New style ‘bins’
* On screen console controls
* Full screen video on single or secondary displays
* Advanced EditShare Project Sharing*
* Native support for Apple ProRes, Avid DNxHD and AVC-Intra*
* Native support for RED R3D files and RED Rocket cards*
* 10bit and 16bit DPX support
* H.264 and AVCHD support for DSLR cameras
* Stereoscopic import and editorial support*
* Stereoscopic output through SDI and DVI (dual stream, side by side, anaglyph)**
* Native 2K resolution support
* Output through DVI in different resolutions up to 2K
* New project browser
* Windows 7 support (32bit and 64bit)

*Options available through the Lightworks Store
**SDI Output requires optional I/O hardware

Platform Support
We are still receiving questions regarding OS support for Lightworks. Currently, Lightworks runs on Windows 7 32-bit and 64-bit, and Windows XP 32-bit. We are looking to port it to Linux and OSX, but this won’t happen until late 2011.


Minimum Specifications
These are the minimum recommended specifications for running Lightworks optimally:

* A PC computer with Intel Core Duo, Intel Xeon, or AMD processor
* 2 GB of RAM (3GB recommended)
* A PCI Express graphics card with 256MB memory or higher
* A display with 1024 x 768 resolution or higher (1440 x 900 or higher recommended)
* Windows XP Professional SP2 or Windows 7 (32 bit or 64bit)
* QuickTime 7.6.6 or later
* 100 MB of disk space required to install Lightworks
* Dedicated media hard drive (7200rpm or higher)

Lightworks user profile
As promised, each newsletter we are going to profile a Lightworks user.

This time, we are profiling Chris Gill, editor of Centurion and 28 Days Later.
Click here for the full profile
We want to hear from you!
We’re looking forward to your feedback and welcome any comments or suggestions on where we can improve. Please contact us on lightworks@editshare.co.uk.
©2010 EditShare. All rights reserved.
EditShare™ is a registered trademark of EditShare LLC. All other trademarks mentioned herein belong to their respective owners.

That sounds fishy to me. The Linux version in 2011 isn't surprising, but no mention at all of how they define "open source" other than it's "for free". Also, excluding non-registered people from downloading? Sure it might be a way to control bandwidth problems, but I suspect it's more a way just to control the software.

Yeah I dunno much about it. Not much can be found about it. Less than a month I'll know. ;p

Public beta is out.

Its a nice interface
good latency in trimming
nice enough workflow
a bit quirky but nice

I believe, personally
this is the best free video editing/logging software
excellent keyboard remapping and external interface mapping

Unfortunately it has extremely limited import codecs
It basically is set for ingesting HD digicam formats
so it doesn't really work if you are editing anything that uses standard avi/mov/mkv/divx file storage.

For me, that sux.
practically every piece of source material I have won't ingest into it.

The couple pieces I can ingest were very nice to edit and trim in the customizable flow.

They need to make it work with installed codecs on your machine for ingest

It also leaves cache folders on your ROOT of each drive
regardless of whether or not you want it to.

I should add
I'm testing win64 binary
I also believe this is better than any other GNU linux editor
but haven't had a chance to test it's stability under 'nix.

but it's far more mature, production wise, than anything else in the GNU domain.

It's definitely better stability than cinellarra
and you don't have to hack the crap out of your environment to make it stable in a deb workstation.

For the Bin/material organization capabilities, nothing in GNU really fills this essential post production workflow requirement at the moment.