It's a romanian IPTV supported by Fightersoft Multimedia (
http://www.smcmobile.ro/). The website is
http://tv.pbxtelecom.ro/
Not all the channels work but NGC, Discovery, ANIMAX, MTV and some other have working streams when I tried them . It's still beta but if they have all the channels up and it stay free it would be a nice tv soft.
Download and install the client. Skip the "wmlite" installation because I think you won't need it.
Then when you start the client, register - I don't know romanian but all you need is username and password and the fill hte rest fileds with whatever.