Just released version 0.8 of the TWIT app to the Android Marketplace. The same version is also awaiting approval on Amazon's AppStore. This version has fixes for the issues that were causing the chat and calendar views to reload (logging you out of chat) when the devices orientation was changed.
I'm still trying to locate the bug causing the stream to stop after 10-15 minutes on froyo. I have some reports that it's only on froyo but I need more information. It would be ideal if there were online documentation of MediaPlayer's error codes. If anybody knows what causes MediaPlayer to OnError(1,-11) please let me know.