Yes, to summarize what's been said - the auditions will follow a similar vein, although the submission shots will be slightly different. You'll have plenty of time to get your shots in before the deadline.

Shots may NOT be edited in anyway. Doing so turns it from a screenshot contest into a photoshopping contest. Similarly, you may not enhance your game through 3rd party means - doing so tilts the balance unfairly against PS3/4 players.

It isn't required to have the SE watermark in the shot, so FRAPS can be used, or whatever screengrab software you want. I admit, this does slightly tilt things against PS3 users but the amount of model frustration it seems to save offsets it in general opinion.

Also, VOTE!