If you want to download and install it, go here. The latest version is 2.15.56.14870.
To install, do the following:
1. Change the keyboard that is in use to the Multi-touch keyboard
2. Download the .apk from the their website using your phone
3. Rename /system/app/Swype.apk to Swype.apk.bak
4. Rename /system/app/Swype.odex to Swype.odex.bak (if you do not have this, don't worry. Just continue to step 5.)
5. Rename /system/lib/libSwypeCore.so to libSwypeCore.co.bak
6. Reboot the phone
7. Run the Swype Installer
8. Enjoy!
Changes:
-Revised installer workflow. Users can now enable Swype and select it as the default input method from within the Swype installer.
-The installer now includes a repair feature. If a previous installation failed, or if the existing Swype BETA installation is broken (missing/corrupt license, etc), the installer will attempt to resume the installation process and repair any broken elements.
-Clarified error messages to give a more accurate description of the specific problem encountered.
Added links to the tutorial and tips-and-tricks videos to the end of the installation.
SWYPE BETA v2.15.56.14870
-Added support for new installer features, such as version checking and installation repair.
-Merged the most recent changes from trunk (mostly device-specific bugfixes)
First and foremost - We've resolved an accuracy issue that was introduced in the last beta update. Refer to the changelog for more detail on this critical fix.
Second - Swype BETA for Android now supports Double-Tap-to-Edit! Swype choose a wrong word? Just tap the word twice to bring up the word choice window, pick the correct word, and the cursor will return to wherever it was before. It doesn't get any simpler! See a video demonstration, and check out our other tips and tricks.
And Third - Swype BETA for Android now includes a Voice-to-Text button (available for QWERTY layouts ONLY)! You MUST have Google Voice Search pre-integrated in your ROM for this feature to work. We wish everyone could access it, and are working to adapt our existing code to support versions of Voice Search downloaded from the market, as well as other voice search providers, in our next update.
P.S.
If you do not have an account yet, the go here to register!
UPDATE!
It looks as though others are having issues with this on custom ROMs. Please use at your own risk (as always) if you are running a custom ROM, and BACKUP! BACKUP! BACKUP!