Wow, I wish I'd been there for that (had to go to a trade group meeting) -- that's one of the topics that interests me!

Btw, I think you mean that a beep-for-incorrect gives you 2 bits of information. Just applying the box will usually (~75% of the time) not indicate either way. The average information gained from an application of the box (aka entropy of the box variable aka expected surprisal of using the box aka average information gain on using the box) would be ~0.5 bits.

And yes there's also nats (base e).