Instructions
Download TVersity and install it to your computer. You will need to follow the installer's on-screen instructions.
Open TVersity by double-clicking its icon on your desktop.
Click the "YouTube" tab on the right-hand side of the screen. Add a few channels to your TVersity server so you will have some test videos.
Click the "Start Sharing Service" button in the upper left-hand corner of the screen.
Turn on your Xbox 360 console and allow the dashboard to load.
Scroll to "My Xbox" and select "Video Library."
Click "TVersity" on the "Select Source" screen. You can now stream videos directly from your TVersity account.