I was deferred then waitlisted last year, reapplied this year, and was accepted. I was also a recruited athlete. I'm happy to answer any questions I can.
A shortened timeline:
April 1: Waitlisted
May 1: Committed to backup
June 5: Waitlist closed, added to shortlist in case something opened up before Day 1.
July 15: Submitted application for round 2
I don't recall sending in more updates for my app, but I may have sent a 3rd quarter transcript (can't remember for the life of me). Your email may give instructions on that; if not, ask AO.
The continued uncertainty is at times unbearable. I'm presently waiting for a waiver on an injury post-appointment, so I'm still with ya'll there. But, on the bright side, think of all the patience you've gained and will gain! I know of many cadets who were accepted off of the waitlist, even days before, so it is a possibility. I remember trying to analyze the statistics last year, but there are just too many variables to predict. Getting a waitlist offer at USCGA is an incredible feat in and of itself, you should be proud of your achievement! Just know CGA is small so while they want you, they don't have room. This goes to anyone who did not receive the news they wanted, if you would still like to pursue CGA, definitely consider reapplying.
My biggest regret during the waitlist process was not lining up my backup sooner. I'm not sure if it is just the school I'm at, but by waiting, I was late to the game for class registration and wasn't able to get into Chemistry. Also, lining up the backup allows a little relief and sense of certainty, which is much needed during this process. By far, the best advice I can give is to set up a call with CAPT Fredie when he offers. Incredible opportunity. He'll answer all your questions and go through your application with you, as well as strategize for next year.