From what I can tell it went down like this.
huges act states no Person can own a post 86 Machine gun.
ATF declares Trusts are not people.
Therefore Trusts can own a machine gun.
a bunch of folks tested the system sent in Trust form 1's for full autos.
quite a few people got back approvals with stamps, before they realized they screwed up, a whole bunch more (I don't know numbers yet) Recived approval and stamp but were called by ATF and asked to please return the stamp, they were also sent dissaproval letters.
Considering they've blown a hole in the law, based on what I'm seeing it may be possible for the a trust to manufacture a full auto, it would not be transferable except to descendants.
theres a Arfcom thread that details it.
if true, holy crap. no hopes up but I'm sure there doing mental gymnastics to figure out how to back out of this one