I got my code too, hopefully I get accepted

I Got It a while ago but sadly it is still loading up for me

Yes the code downloads a registration app which you basically agree to all the terms and conditions before you do so. The beta is for the march update that will be mostly for the party system and once you get in you can invite other players and be able to see the private forums on xbox.com.

Also you cannot be in a party with others who do not have the update but you can still play multiplayer games and multiplayer matches.

I don't know wether to do it as last time I done a beta for Microsoft it bricked my xbox 360

All I know so far is that many people have had issues loading the App which was downloaded from the code provided. But once opened the app it gave you a few terms and conditions to accept and then you send a request and wait upto 48 hours for a reply. Probably needing accounted checked to allow the beta update.

I'll let you guys know more when I can :p

when it does not load and its stuck on loading hold your power button on your xbox for 10 secs then it will turn off then turn it back on then go back on to the registration app and it loads straight away