On the download page it says that it's still in beta testing and NOT to use on a live forum. Is that still the case? I've just installed the Portal MOD and in the CMS settings it asks if Links manager 3 has been installed.
Yes, the latest version available is still v3.0 Beta 2. There are some known issues especially with MySQL and MS SQL databases and other small bugs. You can use it on your live forum (a lot of people do), but I can't guarantee that everything will work flawlessly. I will start finishing the final version next week and hope I can complete it very soon.