A new beta release of Windows Live Essentials 2011, also known as Wave 4, is already available for download.
The first beta version was released last June with Windows Live Photo Gallery, Movie Maker, Live Mail, Writer, Messenger, and Live Sync. You may check the Windows Live Wave 4 preview below.
Some of the new features of the Beta 2 (or Beta Refresh) build include Facebook Chat integration in Messenger, Bing Map Geotag integration in Photo Gallery, and Flickr video publishing in Movie Maker. There are also some incremental refreshes of existing features within Live Mail, Writer, Family Safety, and even during Startup or setup in which users can choose between a default installation or custom installation- allowing them to pick which programs they want. [Source]