The Federal Bureau of Incoherency

The introduction of  the list has this banner,which is rather skillfully rendered, probably in photoshop.

It also has the following text:  

On December 28, 2007 a group came together to create The List. 
How one gets placed on The List is a heavily guarded secret.  It is protected by many one Sentinel knows every step to The Hidden Rite.  One requirement is known by each Sentinel. 
Each Sentinel of The Hidden Rite looks for posters who meet his (or her) requirement.  That user is submitted to The Sacred Assortment.  It is then that other Sentinels verify that the members of The Sacred Assortment have completed their various requirements.  Once it is deemed a member of The Sacred Assortment has met each individual requirement, they have completed The Hidden Rite.  They are then placed on The List.
A member of The Sacred Assortment will remain inactive until all Sentinels have verified their completion of individual requirements.  A member can not be notified of their placement in The Sacred Assortment.  Only upon being placed on The List will a member know of their consideration and status.
The Sentinels of The Hidden Rite meet each day via anonymous usernames in order to submit new members for The Sacred Assortment and to verify those who have made The List.  Sentinels may never reveal their identities to anyone.  Sentinels may be placed in The List in the same manner as regular members since their identity will not be known to each other.
The Sentinels are ever vigilant...always looking for those who are worthy of The List.
The List doesn't care about your popularity or status on the boards.  The List can include anyone.   There is no limit on the number of people who can be added to The List each day.  Names may be added several times a day.
Will you be on The List?
 The purpose of this is pretty straightforward, it is to describe this operation to us, the IBers.
  1.  Sentinels know as little as we do, except that they also know a requirement, given to them by "The One".
  2. There are ten sentinels, each submits a user who has fulfilled the requirement.
  3. A user who has completed all requirements will be added to the list.
The intro also contained a poem.  The sentinels, and people behind the list, seem to communicate entirely in poems. 

 The idea here is, the sentinels are watching, and they will be giving out clues. 
However, notice the words overlayed in white.  They sure do pop out. 
Here is the original combination: "Ten bound faces IB escape threads"
however, several other variations have been suggested, such as "Ten IB bound threads escape faces".  
Another important note is the emphasis on the number 10: 10 sentinels.  It's possible that 10 refers to December, which was originally the tenth month, the prefix "Dec" meaning "10".