Yes, it is still running. You should get an e-mail 10 days prior to your first flight, but not all flights have this option.
It changes on a day to day basis, depending upon markets and bookings.
But calling Icelandair will not help, as this entire program is setup up and run by PLUSGRADE.
Icelandair sets the parameters on incremental revenue gained, but the entire thing is run by this firm:
http://www.plusgrade.com/
For a general overview, as it applies to the airlines that use this service, look here:
http://www.cnbc.com/id/47892126