OMG I'm in the same boat. However, I haven't applied for the irregular offer. I too, want to get into bcom melbourne uni. Apparently you need to do a few things before applying. 1. contact the university and ask if it is a wise choice to apply for the irregular offer. 2. see if you meet the clearly-in, pre-requisites 3. chances of getting a placement through the offer.
Unfortunately, i cannot apply for this because im not even in the country!!!
Apparently, by launching an irregular offer, vtac is no longer responsible for any future offers. That means no second round offer. So i don't really no what happens if you dont get an offer through an irregular offer.
Hope that helps. Good luck for us both. (Y)