Thanks to a developer called Momchil Karabulev you can now make the new site design for Youtube live. The design overall is the biggest re design Youtube has seen in years this is mainly to integrate Google’s new social network google+ into their video service.
The main feature of the re-design is a 3 column display, on the left it displays your account information such as channels, in the middle column there are videos from people you subscribe to which seems to be videos from people you subscribe to on Google+ as well. Then finally on the right hand side column there are recommended videos for you to watch.
This update gives the site a fresh new look but I can only see it being useful if you have a big presence on Youtube or Google+ if you are only friends with a couple of people on the services your stream will just be filled by their videos making your selection a bit limited.
The update is not yet live but if you go to The Verge they have a quick and easy way of getting it… even if it is a bit of a hack.