How it works
Selections will be announced by the end of October 2010 and the process will repeat every 6 months. If an Editor's Picks is currently listed, that does not mean that it will be listed in the new round of selections. Additionally, team members with listings in the directory have self-excluded from the selection process. You may nominate as many as you wish!
A total selection of up to 60 Editor's Picks will be chosen (about 1% of the entire listings).
Sparked some controversy
Not everyone thinks it's such a good idea to have these "Editor's Picks" at all. There has been some discussion in the community about this, and some have suggested they'd be removed completely. One issue that has been discussed is the challenge of the editors being neutral. As mentioned, the team members with listings have already self-excluded. However, it's really important that the editors do not make themselves look like they're corrupt (even if they're not).
The opinions around this topic are many, you'd have to decide for yourself. If you want to contribute to the process, nominate here or discuss here.

The Joomla! Extensions Directory Team announced a few days ago that they have made some new guidelines for "the once Top Secret Editor's Picks".
