Reading the code I would try something like this:
add_filter(
'bp_core_signup_send_validation_email_to',
'wpse_60858_catch_user_signup_mail'
);
function wpse_60858_catch_user_signup_mail()
{
// make sure to use a valid email. test it with different addresses
return get_site_option( 'admin_email', '[email protected]' );
}
This changes the $to
part only.