Well the T&Cs say only valid for first 500, so they can just remove the moto 360 from the order or even just cancel the order if you weren't in the first 500.
Contract is only completed uppn dispatch, so until then they can do as they please pretty much.
It's only a good deal with the 360 so I'd probably cancel if I don't get one.
I would think you get one if it says so in the email conf as mine does.