I was thinking about that recently. Looking at the degree of slippage in MG projects over the years, one might extrapolate a release date based on past experience. The alpha was tentatively announced for 2013. Most long range forecasts tend to be out by about a year or more (Aep, Pacific Fighters, Pe2, 1946). I do not expect to see the alpha ready before 2014. About another twelve months after that would typically cover the period of testing, revisions and inexplicable news blackouts such as happened during SoW's development. In all seriousness and without melodrama, I really do not expect to see the sequel before 2015.
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