LoyaltyLobby have confirmed that you can now book the new PointBreaks for the period February 25 – May 31, 2015, and readers state that some properties have already gone, despite the PointBreaks page not even having been updated with the news yet!
The PointBreaks page still shows the previous list up to February 28th, but the hotels on the new list are bookable now.
It could take time for some hotels to show at 5,000 points, so you may need to keep refreshing the page. Plus there could be some changes to the list given to LoyaltyLobby by IHG.
Let us know what you manage to book.
(UPDATE: The PointBreaks page is now showing the new list!)