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FRT's are now Machineguns

So this seems to be the pertinent part "Unlike traditional triggers and binary triggers (sometimes referred to generally as “FRTs”), these FRTs utilize the firing cycle to eliminate the need for the shooter to release the trigger before a second shot is fired."

A binary trigger fires on release of the trigger. This seems to say that once pulled, the "firing cycle" causes the gun to fire again without releasing the trigger ?
Correct.
 
It doesn't look to me like currently owned FRT's will be grandfathered in. They seem to be saying they will come after them:
Based on ATF’s determination that the FRTs that function as described above are “machineguns” under the NFA and GCA, ATF intends to take appropriate remedial action with respect to sellers and possessors of these devices. Current possessors of these devices are encouraged to contact ATF for further guidance on how they may divest possession. If you are uncertain whether the device you possess is a machinegun as defined by the GCA and NFA, please contact your local ATF Field Office. You may consult the local ATF Office’s webpage for office contact information.
 
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