No, all channels are not live.
Officially they have launched only Wow music. Dream tv is also launched but not officially, BT news is under testing & don't know about M Tunes.
I love is running on Wow music from 7 am to 11 am, don't know they are testing it in that way or it'll be like that only.
They should distribute Dream tv also as it is only available on Fastway.