I have updated my Blender Builds and GraphicAll build to use "Mesh Paint".
Basic usage is really simple, just set some objects as "Paint", one as "Canvas" and click bake. Hardest part is to generate UV-coordinates and load the output image sequence. -_-
That's why I made a quick step-by-step tutorial to get you started: Blender: Mesh Paint Basics.
This patch should be rather stable. (At least I haven't experienced crashes lately.) But when you encounter bugs or crashes please report them to me. And try to explain how to reproduce it. :)
UPDATE: A greatly improved version is now released. You can download a patch from my Blender Builds page.
Category:Blender, DevelopmentTags: Blender, Dynamic Paint, Update, Patch