On their home page under the primary discount ad
"20% off all regular priced in-stock items not valid on past purchases, backcountry skis and boots, mont-bell, marmot, evernew, montane, helle, patagonia products expires 1/3/11."
It does not seem to be a hyperlink.
Looks like I got the last Ibex Zepher Long John Medium. I went thru the process of applying to a large size and the coupon was working for that item.