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If I don't win, will my project still be eligible for consideration for Mellon funding?
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MATC awards are not Mellon "grants:" they are achievement awards. They do not honor projects, however promising, that do not have some substantial track-record of success already behind them.
If you are planning to nominate a new idea in order to bring it to the attention of the Foundation, please reconsider. Visit the Mellon/RIT website instead, and follow our usual procedures for getting in touch with us. Attempting to use the MATC site for this purpose simply won't work.
If your project does qualify for a MATC (i.e., if it is already in release and successful), but still needs additional funding, then applying for a MATC will neither hurt nor help you. Whether you win or lose, you are still free to approach the RIT staff about additional support. In either case, the burden of initiating the contact will be on you: we do not use the MATC nomination pool as an applicant pool for ordinary RIT support.

