I test on my site. after signup finish I go to my email and check my inbox at gmail.com and click the link given but not show username and password for login my blog.
---------------------------------------------------------
To activate your blog, please click the following link:
http://test.demo.com/wp-activate.php?key=cc4a6e2c063401ce
After you activate, you will receive *another email* with your login.
After you activate, you can visit your blog here:
-------------------------------------------------------------