I visited the pheenix.com website but only had the choice to email in regards to the backorder of domain names? So it seems like this isn't actually a live service yet?
It is a live service. If you email [email protected] they will give you the details. The catch program has been operational for over 3 months and we have a solid track record of beating Godaddy drop catching services.
As well, drop catching is currently on a first come first serve basis with no auctions. Meaning if you backorder the domain name before others, then you will receive the domain name if it is caught.