Please read the Hijack FAQ here in this section

Tony has put a hell of a lot of work into putting the main FAQ together for people to read. It's there to read but instead it seems it gets linked to more often than read. There's a big flasing link right above where you creat a new post.

As for your first question the beta although labelled beta is of a very high standard. There are some bugs but they are worth putting up with for the extra features and the ability to use Hijack. If you don't like that (and don't want the features) use 1.03