Oh yes, it's ongoing. Don't just wonder if you join it now, I would strongly recommend jumping on it while it lasts in the pre-sale stage as the ratio will go down by 1/2 after first 5000 ETH, and the numbers are increasing by the hour.
I dropped them some ETH already, but definately going to drop some more. Looks like this is really picking up some great momentum and don't want to miss out!