I received my acceptance within two days. Then again, I applied for a class months in advance. If you don't get accepted, you will receive an email saying so. Best of luck!
Honestly, it isn't an interview in the traditional sense. Other than a short coding exercise, there were no technical questions. If you think about it, that makes a lot of sense. The whole point of the program is to take people who have (potentially) never programmed before and turn them in to Ruby on Rails beasts.
Ned and I chatted about ourselves for a little bit, we talked about the program and what I could expect, Ned asked what I was looking to take away from App Academy and what I wanted to do afterwards. It was more about us getting to know each other and making sure I would be a good personality fit for the program.
As I mentioned, there was a short coding exercise that we went over during the interview. If you are offered an interview then your interviewer (Ned or Kush) will send you an email with some introductory material to go over before the interview.
The most important thing is that you don't stress out. These guys just want to get to know you and make sure that you are the kind of person they are looking for. If you aren't, then you wouldn't enjoy the program anyways so, again, there is no reason to stress.
Good luck! Hopefully I will see you on the mailing list soon!