This is the naming system for the builds as of right now.
If the name contains "FB" in its name, it means "Feedback Build." These builds are in the alpha stage and are published for feedback. These are incomplete builds and are bound to contain glitches. Features, designs, and game design choices are tested in these versions.
If the name contains "(Alpha)," it is just an alpha version, and continued development on the game is not certain
If the name contains "(Beta)," it is a beta version. These will release extensions of the game such as more levels, bug fixes, and overhauls.
If the name contains "Release" and then a number, it is an official release and is the most stable version of the game, while it may not include all features in some "snapshots"
If it contains "snapshot," it is a post-release testing version. These will contain new features that are not as stable.
These will be named with their category, and they will be numbered with the number of that category it is. If it is a snapshot, it will be named with <Previous Release number>/<Snapshot Number>.
Patches are bugfixes and are even more stable then the version before them. I recommend you play the version named with a (Recommended Version), however, if this does not exist yet, play the (Latest Version).