If I remember well they aren't going to bother to get Nova approval anymore, from what I heard they submitted it to Nova once and never got a reply at all. However Nova doesn't seem to care whatever mod you install in a private server, I found the following quote on the Novaworld forum: "You are free to do whatever you want on your own private server, however 3rd party software may be a threat when you play in official novaworld servers or punkbuster protected servers..." So apparently not being approved only means that they don't have their own icon in the server list and that mod switching doesn't work as it's a stand-alone installation rather then an expansion.
About the trailer, it looks pretty cool, but the main question is, will this mod get any full servers. Every time I check, it's only the TR, ESC and IC servers that are actually filled, ICE a bit as well, but the few AW2, R, SG and SA servers are mostly empty. I have AW2 installed for a long time, but hardly play it as it's mostly empty servers. Although when I hosted a server some months ago to test an AW2 map I made I did get 4 players in it.
That has got to be the best video trailer for a mod that I have seen in a long long time. I do have the same question as MichaBen... will there be active servers? If yes, then I might consider leaning NILE for map editing unless I can use XMed.