CER has been out for a while in alpha, and it's pretty stable. People are using it and liking it, so I think that after nearly three years we all deserve the "solidity" of a beta. Enjoy!
Additionally, this release restores the ability to reorder, activate/deactivate, or change the directionality of presets directly on the overview form.
This release fixes a few sneaky bugs that made it into alpha1, and introduces a new bundled add-on module called CER Entity Settings, which allows you to override the CER settings for individual fields on individual entities. You can decide which presets to use at any given time, and either apply those settings once or have CER remember them so that they'll apply forever (or until you change the settings).
Gentlemen (and women)...behold: the first relatively stable release of CER!
This version is considered alpha because it has no automated tests yet. However, it seems stable enough and has all the features intended for the 3.0 release. Once there are tests, CER will be in beta.
CER 7.x-1.x was a direct port of Corresponding Node Reference; this branch replaces most of the CNR-derived code with a new object-oriented architecture, and incorporates many bug fixes/patches/requests filed against 7.x-1.x.