2. Open JDownloader and go to Settings > Premium Tab. 




3. Click on Add Account Button. 
Use these settings : 
Host : ME megaupload.com 
Name : Cookie 
Pass : M7YEZCPAHWYWWTOWU9K.SYX12NMAJ42? 



4. Click OK and there you have it. 



Note : Even though it might say that it's a free account, its not. Its a premium account. You'll be able to download at your internet's max speed, and no huge waiting times.
The only waiting time is between one file and another, a mere 45 seconds  enjoy!