The updater managed to move my ~/Library into the old MediaCentral.app in the trash! As it was hidden in the app, didn't notice anything wrong with the trash until I started emptying it. I stopped the process once I noted a few items were requesting to be trashed that shouldn't have. Then applications started acting wierd and finally I noticed what MediaCentral had done.

I was able to replace some stuff, but now half of my library has been trashed.
Great, now I've lost my keychain, and additionally am having to enter in passwords for every app that needs ones, and having to redig up serial numbers for tons of apps, let alone how many I'm going to have to now reinstall.

Really sucks. If you bother with this program, BEWARE and watch closely what it does. "Show Package Contents" on the app it moves to the trash.