I have medallion status through American Express, and I almost exclusively fly on Award Redemptions. (As a sidelight, that makes the discussions of the changes to the Delta program, for me, a lot of "interesting, but doesn't apply to me." This particular change, by contrast, applies to me but not to most people on here.)

The Feb 29 date is a presumption on my part - one has until that date to select a Choice Award, and one has to fly the eight segments in order to claim said award. I'm making the guess that one merely has to complete the segments by the time the award expires (or shortly before). Delta isn't specific about that on their Choice Benefits page.

I mostly said it as a joke - if I were going to do this I would do it well before then.

EDIT: I found this language on the site (you're probably aware of it already):.

"Members who are awarded complimentary Diamond or Platinum Medallion status must fly a minimum of 14 or 8 Delta-marketed and -operated flight segments after status is awarded to be eligible for Choice Benefits, respectively.
Eligibility for Choice Benefits is based upon a status change to Platinum or Diamond Medallion within a given status year. Members who qualify for 2015 status in 2014 will only be eligible for 2015 Choice Benefits. Choice Benefits selections for 2014 status need to be made by February 28, 2015; selections for 2015 status need to be made by January 31, 2016."


I was unaware of that change. I suspect you're right about the January 31 date.