I did receive a confirmation e-mail although I've not received any codes yet.
It's also marked as "Order Submitted" on UbiShop although tbh I don't have any idea how they work anymore. I seem to remember in the past it was just a case of they take the money when you order but the past couple of times I've ordered from them sometimes they have, sometimes they haven't.
However I have no idea how codes work with them, I'm still waiting on a ?10 voucher they said I'd get after ordering Far Cry 3. (Heh, in fact that order is still listed as "Order In Process" due to the voucher part where it just says, "Processing serial number or unlock code.")
I've not even heard much about The Watch thing outside of a couple of little bits and the first time I heard of it was when I preordered.
I found the Ubisoft support Facebook say they had no idea about the code and give
this link though if it helps.