We're working on an article currently that will explain more about Virtual Realms in detail. We're hoping to have it out to you all soon and will do our best to answer as many questions as you have as possible.
Keep in mind, we've only released the PTR http://www.euwowgold.fr/ notes at this point and still have testing, refining, more testing, gathering constructive feedback, testing, and then... when we think it's actually ready, releasing this live. While we have an idea of when we think we are going to have the patch go live, it's no guarantee that everything will go as expected (*crosses her fingers*). This isn't something that's going to be out in a week or anything.
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