Cheers for the info everyone, fortunately it doesn't really affect me as I was able to get the PICUS confirmation letter before they stopped handing them out so I now have an ATPL.
We are a Swiss operator and apparently it's the FOCA (Swiss CAA) who are objecting to the traditional UK-style of PICUS authorisation. This is quite contentious as the head of training has been quoted as saying that "we don't want to run ATPL tests for these guys as they'll all be off to Emirates", so we're not sure who is the one demanding the new system.
I did send my licence application to the UK CAA originally as the company were being slow with the letter, and I got everything sent back to me as they did not have either a written letter from the company or signatures from the captains confirming that I had flown PICUS on that leg.
I've heard a lot of people having various different experiences when sending their licence applications down to Gatwick, there seems to be quite a spread of successes depending on who opens the paperwork down there. If you don't have a company letter or a load of signatures then you may get lucky on one day (3pm Friday) when on another you'll get it all sent back to you. Worth a shot I guess but frustrating if they turn you down, then you have your cash tied up at the CAA without a licence to show for it.
Anyway, thanks for your help and sorry to detract away from the thread.
As always, best of luck to everyone going through the selection process.