I emailed them (concerning my funding, and I took the opportunity to ask them about GradSS). I got a reply saying that it is normal that GradSS is not updated yet. "Please do not worry about that".
I am reassured :-) .
I have also applied for the MFoCS at Oxford so I will advise you to go to ETH to increase my chances of getting a scholarship :-D .
More seriously, the programs look quite different.
What do you like in theoretical CS ? Are there researchers on this topic at Oxford ? At ETH ?
Are you sure there is more competition at Oxford than at ETH ?
I am currently in Oxford and I can say that if you are reasonnable, it will be largely enough.
If you got this scholarship, as MiroS, I would be interested to know when you have been notified :-) .