Finally Microsoft has released the final version of WLE 2011 Or Wave 4 for public,
Microsoft has already released its BETA VERSION,
Currently this pack is only available in English, Dutch, French, Italian, Roman Spanish and 42 more language.
You may use following link to download this final version :-
Download Link (Web Installer)
Download Link (Offline Installer)
Windows Live Essential only works on Windows Vista Or Windows 7