See also: The Software Cycle | Software | Pre-Alpha
Taken from the term “cutting-edge“, “bleeding-edge” is an extreme form whereby the item is experimental or just short of theoretical. Sometimes also called bleeding-edge technology is “unstable”.
Applied in the software world, it describes software which is intentionaly (and obviously) not ready for mainstream use (pre-alpha*). Project programmers, testers and the enthusiastic curious use bleeding-edge software with the understanding that their use will undoubtedly uncover bugs.
TakeDown.NET -> “Bleeding-Edge”