For the Wave 5 thing, Left 4 Dead 2 HAS been verified by ABGX, and is listed as wave 5. All methods to play Wave 4 games will work on Wave 5 games (at least as far as we've seen for L4D2), so there's no need to worry about it.
On my part, I look forward to seeing if LT really will bypass the bans
Good to know. Assuming I am concious when it all finally appears I will testing it as soon as I can get my hands on it.
As for Team Jungle and why; as I understand it they are the ones who make jungleflasher and by virtue of this and other things they do they are in a fairly respected position meaning they get in on this testing stuff.