Update (17.01.09)
WoW Modelviewer 0.6.0.3
(Release Date 13.01.09)
Found Link for new (almost everything working) Release from Wotlk Model Viewer 
- It's a complete recode from the old one Modelviewer, cause of new Wotlk Model System.
- As far as i have seen you now see the ModelID + ItemID next to Itemname, you also now can equip NPC Item's but they are a bit buggy (most of time you don't have textures)
- Particles & Effects buggy but some are working
- you can activate & deactivate DeathKnight Skins seperatly
- much more (not tested everything yet)
Download Link below
No virus - Link
Changelog 0.6.0.3
Changes / Bugfixes:
- Added a "Load NPC Outfit..." option to the character menu. It's now possible to equip a character with the exact NPC's gear (without weapons).
- Added quality colors to the item-list
- Redone the MS3D export. Bones/Joints are now extracted along with additional fixes for attachment objects
- Added a "Init-Position Model Export"-Option (MS3D)
- The CxImage component was removed due to problems encountered by lots of users
- Exported textures are now stored as TGA files instead of PNG
- Exported screenshots are now stored as TGA files
- The "Set Background Image..." feature is now limited to BMP files only
- Fixed the "Export AVI" feature. Now all frames are exported and you won't just see a "still" image
- Fixed the "Model Control", models are now selectable again to define various settings per model
- Fixed Guild Tabard. The Guild Tabard is now fully customizable again
- Added some exception handling (the buggy particle system caused a lot of crashes)
- Added WOTLK mounts to the ridable list
- Fixed some memory leaks
Give credits to the author who have done great work & have fun with new (working) Wotlk Modelviewer.
Posted this Post in the another Wotlk Modelviewer 3.0.3 Thread, but i thought it would be good that everybody knows that a New Modelview has arrived and ready to use. Changelog was Copied from the Readme of WoW Modelviewer 0.6.0.3