I pulled from the nightly build link today (2:44pm EDT).
The install ran without a hitch, while I was on the AC Adapter.
I can navigate the menu (saw the timeout you all mentioned).
Since focus peaking is my personal favorite feature, I went straight for that. I also remember someone saying that Global Draw had to be On, which it was already. After turning on Focus Peaking, I see no indication of it in Live View. I have tried out a number of settings, but see no effect at all.
Is there another setting I should also be checking?
UPDATE: I looked in the forums and found http://www.magiclantern.fm/forum/index.php?topic=4081.msg22513#msg22513
which talks about pressing the Info button a few times to change the overlays, and voila - there is a mode in which FP IS working after all.