Actually, this is not true. I'm the developer of this little app. The version t_moyashi made available here (cool btw!) is the current SVN snapshot version. I have not made a new release available because currently I do not have much time to finish and release it, but it is still being developed and as far as I can tell, it is running stable for the last year. That's why I introduced nightly builds a few weeks ago, so anyone can try the app - even though there is no official release.
Btw, Quasar Media Player is available for Zaurus Qtopia and pdaXrom, Linux, Win32 and OS X.
The nightly builds are available here (that is, if there were changes on the day before...):
http://katastrophos.net/downloads/quasar/nightly/

Andre