The last update for the VLC for Windows Phone beta caused the app to crash immediately on start up.
A new version (2015.108.50.1759) has now been pushed out to fix this issue, but in my experience the app is still not stable, crashing when music is selected for play.
VLC developer has confirmed that the current closed beta app will receive no further updates, so it is recommended that even beta users switch to this branch of the development.
Download it here from Windows Phone Store for free.
Thanks Sourav for the tip.