Ok, so I'll start at the top:
Her/His Grace the Viceroy is appointed by a deity chosen at random based off of a number generated by multiplying the admissions office's geographical coordinates together and taking the number modulo the largest prime lesser than the product (in the case of the equator, you get zero and that's why there's no med schools constructed on the equator... The zero automatically generates the flying spaghetti monster and he always wants to appoint himself as the Viceroy which of course the High Council just WOULD NOT go for). Fun fact: if the number generated is 7,
@SupremeLeader himself becomes the Viceroy in which case nobody from SDN is allowed in the school.
So the Viceroy appoints a member of the High Council to the position of Chancellor of the Realm. Now that sounds all fancy but really it just means that (s)he gets to pick the lunch on interview day (now you know who to blame! Look for the person in the robes). Now here's where it gets confusing: there's a long-standing feud between the Dark Warlock clan and adcoms so as soon as a Chancellor of the Realm is appointed (when the admissions office is most vulnerable) it's open freaking season and the warlocks attack. The battle lasts 6-8 weeks but can sometimes go on for longer so don't worry if you don't hear anything for a few months, your Viceroy is busy doing battle. For every fallen member of the adcom, a rejection notice is summoned (that's why they're stained with blood sometimes when they get to your email. Don't worry, that's normal). HOWEVER: Once the battle has ended the Chancellor of the Realm has to clean up (it's seriously not a fun job to have), but among the fallen warlocks they find the glory that is the II. The High Council then blesses the II so it's not full of dark magic anymore, but the ceremony costs about 80-135oz of gold to perform each time so that's where all your secondary money goes.
The High Council then gives the II to the Viceroy and then the Viceroy presents it to the original deity selected earlier. That deity passes it off to the Flying Spaghetti Monster (remember we're not on the equator so he's free) who than flings the II with his noodly appendage to an applicant he deems worthy. I believe he selects based on amount of the evil rigatoni you eat that year but I'm not too sure, he's a crazy dude. Thus, an II is born.
Of course all this is void if you're applying to Mayo, because then the Mayo gods will just reject/unreject/whatever ad libitum. (Shout out to the MMS thread)
And before anybody from the GTown thread asks: George fights among the dark warlocks too, he's crafty like that.
tl;dr Just keep waiting and be patient.