From what I understand it is being talked about for Fall 09 applicants and concessions MAYBE made for points already earned??
Google PAX exam and you should find the company that created and offers the exam. and that should give you more information about it.
JS used to require it for entrance back in 2000 when I attempted nursing pre req's then, from what I can remember it was done away with because of the nursing shortage, which if I am not mistaken hasn't gotten any better, anyway it was replaced with and the points system.
Maybe somebody will offer us somebetter advice soon... hope I helped in the meantime