OK, here's the deal...at least my take.
Stop Loss: I went in to check on a bud's application and the first thing John Ryder (runs the pilot recruitment office) asked was "is he stop lossed?" It is very clear that they don't have the number of available military applicants that they would prefer, however they are still calling based on requirements. If you have a departure date, meet all the requirements and have a rec. there shouldn't be a problem getting an interview, otherwise you may have to wait for an availability date. They are tracking the stop loss thing very closely, in fact John had recently spoken with the Bureau of Naval Personnel to see if the Navy was still considering it. He also mentioned that the USAF policy was up for review in June and was hoping things would get better. Bottom line: good news, they want you, bad news you probably need some glimpse of an availability date. DON'T give up, keep your profile up-to-date, network and realize this won't be permanent.
Furloughees: They will interview, however it sounds like the only way a furloughed guy will get an interview is by having a sponsor here at FedEx walk a resume in to the Chief Pilot and convince him. Then, if offered a class date, I'm sure resigning your seniority # from the other airline would be absolutely required (however, I didn't specifically ask this question). Sounds harsh, but the company isn't willing to make the same mistake twice (reference my earlier post). Bottom line: if you really want to work for FedEx (and meet requirements, of course) and you know someone here, I'm sure you could get an interview.
In general: Gotta have a recommendation from a company pilot to get you noticed.
This should make things clear as mud, and I'm sure there are exceptions, just my take on what I heard. Also, the pilot recruitment office is swamped at the moment, as mentioned earlier, if you are not a FedEx pilot DON'T call Kim, let your buddy here do that. I wish I had something more positive to post, but I hope some information is better than none. Stay in the game, this is a great place to work and good luck to everybody.