After installing alpha3 release, any attempt to edit any content results in the following message.
Notice: Undefined variable: replacements in uuid_tokens() (line 95 of ...sites\all\modules\uuid\uuid.tokens.inc).
In the newly updated uuid_tokens function in uuid.tokens.inc, if the $type is not one of the values in the switch block (node, user, file, term, or comment), an attempt is made to return $replacements. However, the $type is 'entity' which does not match any of the values in the switch block. The $replacements variable is undefined and the return fails.
Probably the $replacements variable should be defined as an empty array prior to the switch block. I do find it odd that no test is made for a $type of entity.
I see that this function has been replaced since alpha3. The newly written function available in the dev version as of 2/4/2012 also fails, but with different messages.
Notice: Undefined index: uuid in uuid_tokens() (line 38 of ...sites/all/modules/uuid/uuid.tokens.inc). Notice: Undefined index: vuuid in uuid_tokens() (line 40 of .../sites/all/modules/uuid/uuid.tokens.inc).