To answer your first question, the seal was produced for the use of UDE staff to use in conventions for a promotion. If you could beat them in a duel, you could win a box of DB2 boosters and a t shirt. Lose and they post your pic on their "wall of souls". However a public release has not happened, and truth is it is becoming less likely.
Your second question, Hell yes!
The rules they used can be found here (Note, image is a proxy.)
http://yugioh.wikia.com/wiki/The_Seal_of_Orichalcos