I have just downloaded and installed 14.1 BETA. I says it expires on February 1st. Will this version become production by then so I can download the that version?
A new beta comes out weekly (usually on Mondays). You'll see an icon on the bottom status bar of Toad when a new one is available, and you can just click it to download. That one will have a later expiration date.
The official release of 14.1 will likely be sometime in March, but that is not set in stone.