Hi Erwin. bp-events 1.1 in WPMU 2.8.6 and BP 1.1.3 worked very well at all levels from event creation to widget presentation.
WPMU and BP upgrade to latest trunks renders white screen in frontend and backend when bp-events is activated. Deleted bp-events from plugins folder to get back frontend and backend working.
Per Andy P in testbp.org forum, white screen caused by his removal of all deprecated code from BuddyPress in recent trunk versions. He also mentioned that he will be supplying "a backwards compatibility plugin" to support old code.
Will be waiting for that plugin and/or your upgrade of bp-events.