Lots of people are confused here, which isn't very fair as some of us have been left in the dark for the last few weeks while others progressed.
For those of us who got the "you are shortlisted email" a few weeks ago and nothing else since:
It seems that some people have been asked to go to psych interviews which started the week we received that email, they appear to have been done over a two week period and are now finished. So it seems they had already chosen their cadets at the stage we got that shortlisted email.
When talk of offers going out started and we got our hopes up, my understanding (now) is that those offers were actually going to people who are a couple stages ahead of us that we had no idea about.
My best and most optimistic guess is that they were/are hoping to secure some additional places and that is why they have shortlisted some people so they have a pool to choose from if those places get approved by board.