Applicants will definitely have to put their best foot forward here...students applying not only need a masters degree, but also an industry-standard security certification (CISSP, GSE, CGEIT, or CISM), or they will need to take an entrance exam.
The program looks like it's worth the effort, though. The coursework builds on the students existing information security knowledge, and focuses them to think "big picture". This means not only fixing individual security issues, but to implement information assurance strategies company-wide.