I barely squeezed in for a moment (the site was so overcrowded it wasn't accepting new people all morning). The experience is pretty straightforward; it's somewhere in the neighborhood of Kaneva, Coke Studios and Virtual Laguna Beach but more pink. A few interesting things I noticed:

The virtual town has a cinema that among other Barbie-related things plays spots for Mattel's products.

And you get virtual bucks for watching the spots. The B Bucks can be spent on furniture for your room, accessories, outfits -- that kind of stuff.

Apparently, other Mattel products have promo codes that you can enter to unlock more content.