Although disappointing, I would not be surprised if 'Spring 2015' turns out to be true.
I say this based on assumption, conjecture, rumor, blog post, android news sites, and my experience working in software development.
In the Motorola Turbo forums, someone posted the rumor that 5.0.1, 5.0.2, etc would only be for those with 5.0 only, which could easily be accurate (although I though something went straight to 5.0.1)
However with recent news of 5.1 to be released early to mid February, with significant fixes; silence/vibration, possible memory leak, etc, I could certainly see Motorola/Verizon wanting to wait for 5.1 instead of pushing 5.0.x and trying to turn around and push 5.1 for those fixes quickly after just updating (cost, headaches)
Now assuming mid-Feb release, and assuming Moto X (2014) would get it first say two weeks later, and Turbo following conservatively 2 - 4 weeks afterwards, that would put us in mid to late March (maybe even early April) for the Turbo update, so I could see Spring 2015 as accurate.
Now, I have been excited for Lollipop early after Material Design and other features were announced before the actual release, however when I moved from my Moto X (2013) and choose the Turbo over the Moto X (2014) for battery and specs, I knew that this was a risk