Got this from the Futuremark forum, thanks to ptaaty

Steps:
1. Ensure your x360 can actually see your Windows XP PC (you have windows media connect, and can stream music, etc)
2. Download the latest version of TVersity http://www.tversity.com/
3. Install.
4. Ensure TVersity service is stopped (start, programs, tversity, tversity tools, stop server)
5. download this http://s3.amazonaws.com/download.tve...ch_0_9_8_4.zip
6. unzip and place files in the media server folder in the default install path (\program files\TVersity)
7. Ensure Windows firewall is off or ensure port 41952 is allowed to pass. see http://tversity.com/faq.html#troubleshooting-faq for more issues.
*for me this was the stumbing block...I already had a hardware firewall, but my x360 could not see the server until I disabled the windowsxp one.
8. Start Tversity server and add folders to library that you want to share.
9. Go to the x360 and under connections, disconnect the PC, then when you click music, vids, or pics, the TVersity will show up.
10. On your x360 and go to videos. When you select it, if you did everything properly you should see something like "Tversity Server on XXXX" XXXX is computer name.

Common issues:
1. Codecs not installed...ensure that you have WMP 11 with codecs of things you want to transcode (ie install DIVX codec pack)
2. Wrong rez: go to the Transcoder settings on TVersity program, choose output rez.

I can see tversity server on my 360 but i cant connect, said got firewall blocking. I've already turned off windows firewall and forward the port on my router but still cannot connect