Yay! Check out the screenshots they fixed Tassadar! There are also apparently sound and data files for Fenix and the StarCraft lineup is really missing a zealot warrior type hero so I bet he's coming soon.
Has anyone figured out how to actually extract the models yet? I know we probably can't use them in projects but it's OK to dissect them right?
Yes you can use them in SC2. The Blizzard legalities are not know.
There is already a pretty good tool that removes chunks that cannot be processed. However it should be noted that LotV will probably use the same engine (they are developed together) so chances are models will be importable natively in SC2 version 3.0 onwards.