You can indeed burn BTC into CHA using Multibit. BUT you must be careful that you are sending BTC from a single address (otherwise Chancecoin won't know which address to send CHA to). The best thing to do is send BTC to the burn address using a wallet that only has a single address. To check that you only have a single address, click on "Request" and verify that under "Your receiving addresses," you only have one address listed. If you have more than one, you should create a new wallet (File -> New Wallet), send some BTC to the new wallet, and then send BTC from the new wallet to 1ChancecoinXXXXXXXXXXXXXXXXXZELUFD. Hope that helps. Alternatively, you can always send BTC to a Blockchain.info wallet and follow the instructions I just posted for burning from Blockchain.info.

After you send BTC, you can see your Chancecoin using the Chancecoin wallet software. You can either install this from source, or run a pre-compiled binary. We currently have a pre-compiled binary available for OS X Mavericks, and we will have a Windows binary out soon. The wallet software has a function you can use to check the balance associated with your address.