Unfortunately the wings are purely cosmetic, your Guild Wars avatar won't be able to take to the air but the wings will move and look awfully authentic (as seen in the image to your left). The emote itself can be triggered by typing /aion in any Guild Wars title. Before you ask, it's completely free, has unlimited uses and will become active on September 22nd, the day Aion launches in North America. However it is worth stressing that the code can only be gained by getting physical versions of the game, not through digital download. The code emote is also available to gamers both in North America and Europe and will be tied to your account forever.
For more information on how to get and redeem your emote, as well as check out what it will look like, click here.