After working on this for 2 days, I finally got it. It may not work for you, but this is what finally worked for me.
1. Uncheck Swype in keyboard settings.
2. Clear data and uninstall Swype first and then the installer (if you still have it).
3. Delete installer from your download folder.
4. Delete the libSwypecore file from your system/lib folder (I used root explorer).
5. Reboot
6. Log on to beta.swype.com and re-download the installer and install but don't run yet.
7. Go into settings/running services and kill everything you dare.
8. Go into settings/manage applications/running and kill everything you dare (probably not system processes).
9. Run Swype installer and download Swype.
10. Install Swype but when it say done, don't hit done rather, hit the back button.
11. on the next screen (the one that says "download Swype", WAIT until it gives you the "enable Swype message.
This is ridiculous I know, but this is what I had to go through to get the new Swype beta on my phone.
I now have a mic button.
Yea
1. Uncheck Swype in keyboard settings.
2. Clear data and uninstall Swype first and then the installer (if you still have it).
3. Delete installer from your download folder.
4. Delete the libSwypecore file from your system/lib folder (I used root explorer).
5. Reboot
6. Log on to beta.swype.com and re-download the installer and install but don't run yet.
7. Go into settings/running services and kill everything you dare.
8. Go into settings/manage applications/running and kill everything you dare (probably not system processes).
9. Run Swype installer and download Swype.
10. Install Swype but when it say done, don't hit done rather, hit the back button.
11. on the next screen (the one that says "download Swype", WAIT until it gives you the "enable Swype message.
This is ridiculous I know, but this is what I had to go through to get the new Swype beta on my phone.
I now have a mic button.
Yea