The application process has closed, whilst they wade through the all the assessments. (depending on who you believe, anywhere from 1500 to 3000 or more applied in the one week that the application was open).
Lets try and keep this thread pleasent and helpful shall we? I, and many others, have succeeded in passing the assessment with the invaluable help from many on this thread, everything you need is in here somewhere.
I don't know what they are looking for on the assessment day, but what i do know is that the assessment (both day 1 and sim) is not competative, so you are not assessed relative to everyone else that day / week / month. Its a fixed bar, you get over it, you pass. Some assessment days everyone could pass, others, nobody. What that bar is that you need to get over - your guess is as good as mine.
However with regard to the sim: There is alot of 'folklore' around, and quite a few comments on here going back over the years that the Notechs stuff is what they are looking at - CRM, Decision making, supporting the other pilot where needed etc etc. I believe that is 100% the case - They don't expect you to be able to pole around a 747 perfectly. I think it is primarily a capaicty excercise - can you handle flying a 747 raw data and still have some brain capacity left to make good decisions, still have good people skills and CRM, or do you fall apart and bark at your oppo.
The assessment also ends at DA / MDA - that is made very plain on the day. So personally I would make the sensible decision, 4 whites at DA/MDA - I'd go around. 2 reds / 2 whites at DA/MDA - decide to land - if it all goes to pot below that (which it may as the visual perspective from a 747 flight deck is quite different to what most are used to!) then that bit is unassessed, and your assessor may well help you out there anyway.