It is live and functioning on the test net. They are mostly polishing and getting better UI in place in prep for a launch later this year.
Honestly, a lot of these customer facing DApps need the massive Mist browser update coming in Metropolis to be meaningful.
Sorry- I'm not the most technical person around these parts. I think I understand what you are saying, but I'm not exactly sure. To clarify in laymen's terms: it's currently being tested and should be released later this year, but the Reputation tokens (I think that's what they are called) and actual betting cannot currently be used/executed?