The instructions also state that I need "a medical certificate (less than one year) Class 2," but I do not know what they mean by that. My FAA Third Class Medical Certificate is valid through August 2015, and I'm trying to find out whether that will suffice, or if I need to update it, or if I have to get a Second Class medical.

David,
Its best to contact them directly regarding the license and medical. When I contacted them admitting I have no medical, because US doesn't require it, they responded that they will get a medical swiftly right there on site, for some insignificant amount of money.
Hope that helps best,
GK