I never herd late January, I've only heard of 1.21 in early Feb. Which to SE means Feb 1st - 19th.

I suspet they will have some sort of valentiens day event (they did last year) which would mean server update, which would be a good time to patch in 1.21.

But back on topic:

Along with the "other conent" is remaining craftign revamps to:
COOKING
ALCHEMY
GOLDSMITHING

And revamps to the food system!!! YAY! Not only will food be more meaninfful, but the tool tips will reflect what the food does for you!