Not yet. We will post a beta build when it is working.

I am not putting it on my 17-inch MBP until I know it will not interfere/break FCP7.
Currently loading it on my 15-inch with Adobe Premiere Elements.

Remaster doesnt work for me on Lion. It lets me set all the parameters and then when i hit start to start the conversions they all just sit there at 0% with the progress animation twirling permanently.