It looks like Microsoft has broken the recent trend of not including Office for Mac on MSDN. It's up now!!!
My MSDN account doesn't have 2011 (yet) or any other version of Office. I only have Groove, OneNote, Visio, Project, and Access.
I attached a screenshot of my MSDN account.
Last week, there were rumors that Office 2011 for Mac would require activation. Are those true or false?
Yes. It does require activation.
This includes the MSDN version, although as mentioned above you get 10 keys. Presumably each key can be activated on up to 10 computers (that's how most MSDN software works) so that's 100 unique computers all up.
As a side note, Safari kept crashing when I tried to download this yesterday (it'd get to ~60% complete then just crash). I ended up having to download using Firefox. Also, for some reason the ISO file contains a DMG file. If you're going to burn to DVD, make sure that you mount the ISO first and then burn the enclosed DMG.