You have to have a license.
Actually, you can also run one in /testvb/ online, as long as it's password protected.
From https://www.vbulletin.com/order/license_agreement.php ... "If you have a valid Software license, you may set up an additional test forum in order to test code, template and database modifications. To make this clear to us and our license verification procedures, place it in a directory called 'testvb' and be sure to password protect it. It must not be accessible by the general public."
Nice, but i think the beta will have many bugs because it's new...
*Mr. Kennedy wuvs Brandon? haha*
*I wanna make friends with bryon...*