I reached out to AndroidPolice, who then reached out to their Dell contact. I heard back from them yesterday. This is what he said:
"I got a response (from Dell), but they asked not to share it. Basically, it'll be ready soon, but not just yet. They know people are waiting for it."
I asked him if, in his opinion, we were talking days or weeks and this was his reply:
"I can't say, unfortunately. They don't even know."
So there is definitely something up with the update. And it's obviously something that Dell is concerned with not sharing with the general public. Your guess is as good as mine. Not good news though.