This is a continuation of the puzzle I talk about here and here.
I actually received this in the mail a while ago, but I wanted to try to figure it out on my own before posting it. Here's what I received in the mail from Mike (click for larger):I've already figured out a lot of it (and found some secret messages in the list of words)... but I'm not going to give any hints yet, so you guys can work together to figure it out. If it turns out inside knowledge is needed from me (I think it may be in a couple of places), I'll chime in in the comments. Have fun!