It’s been discovered that a small change to the peripheral API in ComputerCraft 1.48 broke the popular MiscPeripherals mod by RichardG. A lot of people use this mod, so I’ve released this quick hotfix to solve the problem. You don’t need to install this update if you or your server don’t use MiscPeripherals (but you should try it out, it’s quite good!)
Update: It seems there is also a conflict between MiscPeripherals and Equivalent Exchange 3. If you have both these mods installed, you need to upgrade MiscPeripherals to the latest version. This is not a bug in ComputerCraft.
ComputerCraft requires Minecraft 1.4.6 or 1.4.7 and an appropriately up to date version Minecraft Forge. Once forge is installed, drop ComputerCraft1.481.zip into your /mods/ directory, and launch the game.