Our canary and dev channel users found two critical bugs in our release yesterday, so we've fixed those issues and have released an updated beta candidate build: 1.1 Beta 2. Please update, and thank you very much for your help in tracking down these bugs!
You can manually check for updates via Help > Check for Update... (on OSX, look in the Android Studio menu). This will download and install a small patch rather than download a full IDE image. If you are using an older version, you'll need to download a full install from the downloads page.
NOTE: 1.1 beta 2 is currently only available in the canary and dev channels, and Android Studio will by default look in the Beta or Stable channels, so if you want to update, open the preference dialog, go to the Updates category and change the channel setting.
If you run into problems, be sure to check the Known Issues page which we'll update as necessary.
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