helpdenko: the blog: the game: the creepypasta?

So apparently about a year ago there were some threads on 2ch about an unfortunate fellow and his unrequited feelings for a girl known as "Denko". Here are the english translations, although the whole thing's fairly lengthy.

basically:

The threads stopped coming after a while. The world pretty much forgot about the Denko saga until a couple of weeks ago when the threads were finally translated.

And then there's this.

Content Warning:

In addition to the main page, all the relevant links I've found so far are:
http://helpdenkoupdates.tumblr.com/ whenever the main helpdenko blog posts, it's not viewable on the main page due to the scripting used. I'm assuming this is a handy-dandy archive for it.
http://iamdenko.tumblr.com/
http://youbetrayeddenko.tumblr.com/ Referred to on iamdenko as "Aito's blog"
http://help-op.tumblr.com/ This is actually a helpful blog! It has clues and suggestions as to how to continue on.
http://iamthewhitelist.tumblr.com/ where people's names go if they've been "faithful" to Denko
http://iamtheblacklist.tumblr.com/ where your name ends up if you cheat and get given/give out the passwords to anyone
http://spaghettiporn.tumblr.com/ that's... mostly a joke blog, I'm pretty sure.

Anyways, I myself am stuck on phase 1, if anyone wants to discuss or speculate here go right on ahead! I'm just going to ask that no one give out the passwords here, though. That would be cheating. (´･ω･`)

I think creep is a bit of an understatement...

I did, however, take a look at all these tumblrs, and found an audio file of a little girl's voice mentioning something about "teddy bears coming to see you" and "if you don't come play with us, the teddy bears will kill you.". That's subtle.

If you ask help-op to get into the skype group, that's pretty helpful. Lots of group theorizing goes on there. I've actually gotten up to the second password by now. Although that page has yet to actually be updated or filled in with anything.

As far as the teddy bears song, it's unsure if that actually has any relevance yet. Although today two of the blogs had an interesting little conversation. At this point it seems like youbetrayeddenko (a.k.a. Aito) may in fact be a part of OP? Maybe his conscience?

Hmmm. The original posts' ending was a bit of a let down. I honestly wanted Denko to end up murdered or something (i'm a terrible person, sorry).

All this other stuff seems tacked-on and irrelevant to the original posts. The fact that the blog is so dark and outwardly creepy irks me, because part of what was scary about the original threads was that OP was totally convinced he was a normal guy and that he was doing nothing wrong. The blogs' attitude makes no sense with that in mind.

Anyway. This seems interesting, but it also seems like a lot to get into, and there's a language barrier, so i'll sit this one out on the sidelines.

There's not really a language barrier, anything that does get posted in Japanese gets translates about a minute later.

most of the players are now on the Phase 2 Extension, which requires you not only to have figured out the phase 2 password, but six more passwords after that. I don't think anyone has gotten any of the new ones just yet.

I can't even figure out the Phase 1 password.
EDIT: Oops, I should have checked the date on this.