Technically, no, as it is "unsupported." However, since this is indeed a beta and your only support is here, go for it, if you wish as it will work. Scan the forum for threads that discuss how to get it to install if you have problems.
Note that bug filing for problems on a Server SKU would be invalid. And, be sure that any data you sync with Live Mesh is backed up outside of the Mesh - data loss, while rare, can happen.
-steve
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