Originally posted by Trakehner:

And for all any of you know, it could be nearly completed already before they even went on vacation. Could be released not long after they return.

Again, speculation, but a more positive one?

That would just hype up the community more which would in turn make people even more impatient. But i don't see a reason for why they would hold out on releasing the update if it's completed, or saying anything about it, and also since it seems that the devs do like to hype up people with the spoilers and such, i think they would share some info if it was completed. Better to expect the worst than to be disappointed.