Auto Excerpt Beta 3 not working

When I install the Beta 3 plugin mentioned in another support topic:
http://tonjoo.com/wp-content/uploads/2014/01/easy-custom-auto-excerpt_beta_3.zip

I receive the following warning where the excerpt should appear.
Warning: Wrong parameter count for strstr() in /home/ste47864/public_html/inspaces/wp-content/plugins/easy-custom-auto-excerpt/easy-custom-auto-excerpt.php on line 405

I’m not familiar with PHP so am not sure what the problem is. The non-beta version works fine however.. but I wanted to try the Beta 3 so that my styling wasn’t stripped out.

Any ideas?

http://wordpress.org/plugins/easy-custom-auto-excerpt/