Yes 7/11 exclusive is only for one month, after that it will be rolled across US via other retailers.
Although, I don't know the exact date the content will be available, it could be July, August or even September for access to the quest.
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The quest becomes available at the release of Taken King (9/15/15) for those with the code and 1/16/16 (or sometime in January) to those without. I hope it'll work in August... I don't exactly want to have to buy Red Bull online ;-;