Nope, you have it all exactly right, except for the telling off. ~_^ The worst thing that will happen to authors is that if they don't make the April 30 first draft deadline, I'll be removing them from the author's community.
You can sign up anytime between now and April 30. However, if you sign up on April 30, you have to deliver your first draft on the same day. It would probably be kinder to ME as an organizer if you show up beforehand. ^_^
Once you send me your email, you should join snape_lupin on both IJ and LJ, and, once approved, post your synopsis on the IJ synopsis thread. Be sure to "friend" or "watch" both communities on your reading list, as I will be using the IJ version to communicate with the authors. The LJ community is for emergency purposes only.
I'd love to see what you can come up with! New writers in a pairing make for some exciting reads. *HUGS*