Update 2 for vSphere 5.0 was released a couple of weeks ago, the client included with this works on Windows 8. Just tested against a vCenter 5.0 Update 1 installation with no console problems.
You can download the update 2 client from the link below.
https://my.vmware.com/group/vmware/details?downloadGroup=VC50U2&productId=229&rPId=3283#