TetherMe works fine on 5.0 beta 2. The trick I think is that you have to have it preconfigured on 4.xx and then update to the beta and restore from backup. The reason for this is that preferenceloader doesn't work so you can't configure or enable tetherme in the settings app. however, because I had it enabled in 4.3.3 and restored from that backup, everything seems to work in 5.0 beta 2 -- I just have to enable it in the personal hotspot menu in the settings app.