http://i.imgur.com/GdheE.gif
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And yet a lot of people seem to never think about what all is involved:
Video production in itself isn't easy to do if you want it to be presentable, let alone good, just look at a lot of amateur youtube video editing -- That's one part of it; Next you take the subject of what the video is on, which in this case is a video on content still in development and if for example the mob stops responding or does nothing...would that make an interesting video? Not really, but after all, it's SE..they're not bound by the rules of unforeseen circumstances when a lot of developers openly admit they run into problems as well and something may be delayed.
They already stated they're doing final work on the Moogle battle and things can always happen, especially in regards to programming. Make a simple Java app and you'll see just how easily something could go wrong even if it's something so tiny as a delay in a processing.
So is 1.2 coming out soon or not >:3
Like Rentahamster said, unfortunately, with the latest content balances going down to the wire, the video that was planned for release today wasn't able to make it out in time. We're very sorry for the delay, but we appreciate your patience as we continue working hard on 1.20!