http://forums.usfirst.org/forumdisplay.php?f=26 This is where questions should be asked, but as it states on the FIRST Vex website: Teams register online on the FVC registration web site from mid- to late-August until two weeks before the last tournament in March. FVC reveals the Challenge in mid-September. October and November are the active months when teams prepare their solutions to the Challenge, and local and state tournaments occur October through March.
So yes, you have a while to register a team, but check the events schedule to see when the event you wish to attend is occuring.