With the release of Netflix version 1.3 came the support for Android tablets running 3.2 Honeycomb.
That said, Asus released an update taking it to build 126.96.36.199. Go update your Transformer to take advantage of sideloading Netflix to enjoy your favorite streaming movies and shows.
Update Asus Transformer to 188.8.131.52 And Install Netflix
Go to Settings->About Tablet->Software Update and download the update
Download the Netflix APK directly to your tablet, sdcard, dropbox or however.
Open the APK and install