Theoretically, you get a month 'timeout' (for lack of a better term) before you can put your name back in for another class.

I'd like to be able to post the furlough update that Red Eye is referring to but I don't have the ability to attach files on this forum. I tried copy/paste multiple times but it never worked.

To add to Red Eye's post (from the Chen update), the next batch of recall offers will go out sometime mid-Nov and will be a much smaller batch, as they are trying to fill only a single class with each new batch of letters.
The update also states that it is recommended for anyone who has bypassed and now wishes to get a class date should contact Christi Nixon NLT 12 Nov. I expect a bunch of initial bypassers to accept class dates prior to mid-Nov, which should make Red Eye's rumor correct. When I heard about CAL hiring earlier this year, my plan was to bypass until after the holidays - I'm not the sharpest tool in the shed so I imagine that there's quite a few bypassers who came up with the same plan. Since classes are now filled through early Jan 2012, I wouldn't be surprised if all of Feb's classes get filled prior to the next batch being offered jobs. JMHO.