Does it only work on sale items. Tried some full price items which are FW and it doesn't work?
Edit: Doesn't even work on sale items for me. I am logged in and everything as well.
Haven't got it to work myself, but someone else said it worked for them, so I think it only works if you got the e-mail with the code since it's not advertised on their site.
If you have any FW2011 items in your dream box - they aren't otherwise displayed on the site - you can use the sale code on them. I got 40% off some items that were already half price...