Translation is the main problem with the "Bible Code". We don't have originals, and only have translations. So the Bible Code will be different depending on the translation you are reading.
Bible codes are what is called Equidistant Letter Spacing. It can be done and "reveal" things in any book.
For those that don't know about Bible codes, b elievers in the "Bible code" theory treat the Hebrew Bible as a string of letters without spaces, looking for words formed by equidistant letter sequences. For instance, computers might select every ninth Hebrew letter and register a "hit" when a "coded word" intersects with a Bible verse containing related words.
Major Bible scholars ignore the code because, they note, no one has a letter-by-letter version of the Bible as originally written. The oldest surviving manuscripts include slight variations, any of which would throw off computer test results.
All this being said, no it is not the Freemasons in Acts. This is a form of hyperliteralism and reading meaning into the text that was never meant to be read. The WT does this all the time, especially in Revelation.