2.55 Particle Hair Issues

I’ve been working on a little animation film in Blender 2.55. I’m having trouble creating particle hair in this version- It works fine when you add/comb it- but the materials don’t get applied properly and when rendered it comes out as a pink fuzzy blob. What is the issue? Is it Blender’s fault? I haven’t backtracked to 2.54 or 2.53 to see how it is in that.

Thanks!

Ok, solved. Downloading the latest SVN from graphicall did the trick.