You'll have to use a CVS build from the recent builds subforum (look under the SCP forum for it).
Be warned that there may be issues with FRED in the latest one so I'd reccomend going for this version for now.
I was promised FRED with less issues, that build crashes when trying to place a Levi or Aeolus, each model has about 6000 more normals than FRED can handle, according to the error.
EDIT: Aha, cruiser1.pof again. It's got 17000 normals. Maybe that's why I get 3fps when a Fenris is on screen. With my 6600GT.