The install started and copied about 30+GB of data from somewhere (the main install I guess) and then started downloading another 20+GB of data! When I checked my folder structures there was no '_ptr_' folder in my '\World of Warcraft' install folder but there was a '\World of Warcraft Beta' folder alongside my '\World of Warcraft'' folder.
I read about his new update a couple of days ago and tried it out, at that time the blue post said to switch the Blizz App to the Beta version and then install the PTR/Beta and it should install a new '_ptr_' folder in your '\World of Warcraft' install folder, similar to how we now have a '_retail_' folder for the main game along with a 'Data' folder which is supposed to be the one that is shared by all installed versions of WoW. Is it up on EU ? For me it create a new folder called 'World of Warcraft Public Test' for 52 GB.