I have played the new Beefalo thing for about an hour and a half and have encountered countless crashes and a number of bugs. Here are the crashes:
Games crashed when my Beefalo was picked by four pigmen and then myself. It crashed when I picked it last.
Games crashed when the Beefalo I picked came in first place, I won, and then it just crashed. I had over 10 other contestants in the form of pigmen and merms, so maybe that's why?
Game also crashed when a friend on the server had his Beefalo win in first place. One time he chose his own beef when it won, the other time he didn't choose it and it won. Both times it crashed for him and not for me.
One time I just killed my Beefalo I had linked to myself and it crashed.
Also here is a bug that is probably been reported before:
When a friend has a linked Beefalo and has that Beefalo at a stage, and then disconnects, likely from crash, they both leave the server perfectly fine, but the stage cannot be occupied by anyone else. When you start a new round, the stage is empty but the beef guy acts like there is a Beefalo there, and sometimes even ranks it first place. Also all the ribbons left on the empty stage don't go away, they just stay there.
My crash reports probably aren't too helpful because I have no idea what causes them, since I didn't test anything, instead I just named the instances when they happened.
The bug I reported has happened more than once to the same friend, just have them disconnect with their beef connected to a stage.