1) The full mod has no definite release date, however we're hoping to get a demo for Level 1 out this summer. The mod is still in a very unfinished state but we think it'd be nice for the community to play a version of the mod featuring the chunk of content that already exists. This demo is and will not be indicative of the final product and will be drastically different to a full release.
2) This summer (hopefully).
~ will / wilaim