Thought I would share my progress on this as well.
I used an old ESP8266 in place of the flasher, and I used the install webpage to flash it. (you should be able to use any ESP with a built in usb port)
Here is my connections: (RX and TX do NOT switch with this type of setup like they do with other flashers)
(ESP8266 → WT32-ETH01)
GND → GND
RX → RX0
TX → TX0
3.3v → 3.3V
Only on WT32-ETH01:
IO0 → GND
Only on ESP8266:
EN → GND (This will disable the processor on the ESP8266, and allow the serial communication to talk to the WT32-ETH01)
After getting the flash to work, I had a hard time getting the Ethernet Port to work properly. It turns out the default LED pin is 16, which conflicts with the Ethernet Port. This must be changed to an available port (2, 4, 12, 14, or 15), and then power cycle the WT32-ETH01.
I have been using the regular ESP32’s with X-Lights, and they have been working pretty well. (I have learned to disable Wi-Fi sleep, and that really helps with response times.) I’m excited to replace them all with this little board, and remove the extra AP’s I was using to get better signal. As I just got this working, I’m not sure how much better it works yet than the wireless.