I freaking love the web. This one is "old light", albeit only 2 years old.
Speaker is Gerrit Losch at the 2008 Hawaii Convention at ~46:30 Gerrit confidently explains that the "generation" is indeed the anointed on Earth. No overlapping, no Exodus 1:6, no scmenticapelli.
If you can stomach the talk, there are other pearls in there about different elements of the Great Tribulation and what they mean. Most of the time explanation is :"Well, we don't exactly know" (yet we tell you how to live your life)