Well you may be please to know being in Uni in no way detracts from your application. CP67 due to start in November has about 2/3 people from Leeds uni who were in the exact same position as you, having gone to the CTC assessment with impending exams!
edit:
So do they not contact your referees until you have passed stage 4? Or will they use the references to support the selection process?
References are contacted after you have passed stage 4 of selection