Hi beartiger,
I used Tversity pro, I don't think it is possible with regular Tversity.
I didn't make specfic device, altough I read somewhere that it is possible, however did'n find how to make mede8er specifications. But nevermind that, I made it work, and it works just fine.
As Insomniac said...you have to have high speed connection. I'll try to make some steps how to make it work, if someone has anything to add or dissagree say so

1. high speed connection
2. download TVersity PRO (don't think it works with TVersity)
I have version TVersity Pro 1.7.2.1
3. u have to have Latest Flash Player installed and working with either Firefox or Google Chrome
3. As u instal it, it will ask u what source u want (from the internet),
it offers u YouTube, Hulu and you choose what u want, just type in your account from selected (u can add that later in settings for HULU)
4. after installation, run TVersity PRO and blue welcome screen will open, in the upper left corner stands:
GUIDE --> movies from source, (change source in right corner)
LIBRARY --> your saved movies and links to movies
STATUS --> about your device that u want to share with from TVersity PRO (mine says Nokia N800, altough it's mede8er)
SETTINGS --> as name says settings of TVersity PRO
5. go to SETTINGS
GENERAL --> auto detect (because there is no mede8er to select)
check automatically start sharing when the computer starts
home network IP address leave empty if u want to share media on all network (if u enter IP address, only
the entered IP address will be able to play files)
enable HTTP proxy (check)
MEDIA LIBRARY --> as u like it
USER ACC --> if u have hulu acc enter it (i don't use hulu)
TRANSCODER --> only when needed
that is for settings, now adding files in library from youtube (I use TVersity only for about 3 days so don't know how it works exactly but I added YouTube files like this)
ADDING LIBRARY FILES -->
1. under FILE SYSTEM will be all your files from your computer, your video, photos (if u doubleclick video u can select path to that files, same for video)
2. go to PLUS sign or under INTERNET MEDIA --> "internet video" --> add item --> paste your URL from wanted video from youtube and title it, then click submit
now u can add single videos like this from YouTube, if u like to add videos from some other site u can install addon for firefox called "DownloadHelper" and after install it will be an DownloadHelper icon on the left side of your web address,and if u click on triangle DownloadHelper u can see that there will be one or more titles of your video (copy URL only from .flv title because other like [HQ]title mede8er will not play picture, there will be only sound)
in theory u can add any video from any site like this (tested nad working), so YouTube is only one option
after or during adding videos in your library u click on MAIN MENU of TVersity and START SHARING , and yours URLs will be shared with your mede8er
3. if you want to add TV Channels from YouTube (altough it doesn't work very well because it makes it possible to select only 15 of newest videos from that channel) you can do that like this
--> PLUS sign --> YouTube (type) --> youtube type: (leave it) --> URL of TV channel (Video RSS) --> "title" --> submit
you can add TV channel like that or if u select BY USER under "youtube type" and paste name of the youtube suer, you can add 15 last videos of that user
u have to have in mind that your computer has to be ON while watching shared videos
u can find Tversity on your mede8er at
MEDIA LIBRARY --> UPnP -->"computer name": Tversity Media Server --> Video --> Internet (your single added videos)
MEDIA LIBRARY --> UPnP -->"computer name": Tversity Media Server --> Video --> RSS & Podcasts (your CHANNELS from YouTube and users videos)
MEDIA LIBRARY --> UPnP -->"computer name": Tversity Media Server --> Video --> Internet, RSS & Podcasts (all)
hope this help someone, like I said I'm just a begginer with TVersity so any comment and addon is welcome
sorry for my bad english
