This release fixes a critical bug that started presenting itself any time a new product line item type was created through the user interface. It's unknown if this bug was present in the 7.x-1.0-beta1 version or if it purely affected sites running 7.x-1.x-dev, but it was happening enough to warrant a new release.
This initial beta release provides the functionality described on the project page, specifically the ability for administrators to add product line item types that may be used to sell customizable products.