It works, however there still seems to be a bug that prevents the burning of longer projects straight out of Encore. To get around this problem, you simply create an image of the project in encore, and use toast to burn the image.
There are other bugs for the blu-ray authoring that still creep up. For example, if you try and set Permissions for a menu, it just spits out an error during the build process. Also I've heard of problems with chapter playlists and timeline playlists not working properly. So yeah, I guess you could say it still has some bugs, but if you know what they are, and just avoid doing those things, you can create a good project.
I've made a complete video tutorial (free) of creating a Blu-ray disc in Encore using advanced motion menus created in After Effects. The tutorial is for my Pro Motion Menu Kit products, however it can be used for exactly what you are wanting to do. You can watch it here:
I only have CS 3 on a Mac Pro. My biggest issue is my menu chapter's do not highlight half of the time when played in a DVD player. It previews fine. I even used the templates provided. I spent a month emailing Adobe back and forth, trying to solve the problem. I finally gave up. I now use iDVD which is to bad since I had some great menu's in Encore.