In order to update your mugen v1.0 to v1.1, all you have to do is copy all the .vert .lua and .frag files from the main dir and also copy mugen.exe (don't replace old one, better to rename it). You can have 2 mugen.exe (e.g. mugen2.exe) files. with v1.0 you start old mugen, with mugen.exe (v1.1) you start the new alpha with zoom support, max arcade match increase etc.
You can also extract the files from mugen.exe (with 7zip) and see the new codes (for zoom etc.) or modify it (remove the "for alpha testers, don't redistribute" messages) yourself. Try it. Also you need (e.g. molebox, google it
) to create a new exe file. OR just wait for an official release. Good luck!