Great news, everyone! I've finally got it to work after doing a lot of deleting. So it is official that after getting rid of the "leaked" version and installing the beta version of Swype that it will work for us SmokedGlass ROM users. Let me take a couple of minutes to type all the steps necessary (there's a lot to do just to install it properly LOL) and I will post back again so you can all do it too.
Yay! Sype beta works!
Steps To Install Swype Beta For SmokedGlass ROM Users:
1. You will need Root Explorer and Astro
2. Go to the phone menu and go to Applications
3. Next, go to Manage applications and click the menu button on the phone
4. Choose Filter and then choose All
5. Uninstall everything in there that has Swype (even the beta installer for those that installed it already and didn't work)
6. After uninstalling Swype, open Astro
7. Click on Search for Astro and type the word "Swype" (without the parenthesis) in the search box
8. Next, click on the Show Advanced Options below the box
9. Click on the drop-down arrow to change which directory in which it will search
10. Choose "/" instead of the current "/sdcard/"
11. Put a check mark on the boxes "Include directory names" and "Search sub directories"
12. Now click on the magnifying glass icon to search
13. After a couple of seconds it will list all the directories where it has Swype files (remember all of those since you would want to delete all of those files)
14. Now, open Root Explorer (I suggest Root Explorer because you can mount and unmount from there) and go to each directory that lists all the Swype files that you need to delete (the ones you found from Astro)
15. After you have deleted everything, reboot your Droid
16. Once rebooted, open your browser and go to your e-mail that you used to sign up for the beta (I just used the stock browser)
17. Click on the link to download the Swype-Installer.apk and install it
18. After it says it's done installing, on the bottom choose Open
19. After opening it, it will prompt you to enter the e-mail and password you chose when you signed up for the beta, so sign in
20. After signing in, it should automatically download the Swype.apk file and install it also
21. After installing that, Enable it so you can use Swype, but reboot first just to make sure no other problems occur after it's done installing
That should be all of it. Try it and if you have a question just post in the thread.