I think, or expect, to work similar than the Atlantean sword or Royal Armor. Which I have no idea if admin can spawn them without owning dlc.
As a dlc owner (As well as atlantean and royal armor) im not any concerned about this. If admins / private servers can use it without paying, its ok. They could be copied or cheated in by mods anyway, afaik.
About the release: I hardly doubt it will be this weekend, but one can hope xD. In tomorrow’s livestream they already said they will show some nice stuff (be it from paid dlc or free patches) so it would be crazy (but I would love it xD) if they said : “all this available tomorrow!” haha.
Maybe next week, but at least they know there are some of us eager to get it asap!