RE: The LOLZ's FUN House COMtest Announcement- 50 Hive and 2000 FUN Tokens In Prizes

Regarding the rule number 5. Does that mean for the two weeks of the contest we are eligible to make only 3 posts though only one will be considered? Don't know if I get that right?

You did get it right. You're still free to make as many posts in the COMmunity as you want, but just three for the contest. This is because of the time issue and the limited number of judges.