I don't know what SEGA are up too, but if I was in charge of SEGA West, I would have looked at Vanilla PSO2 and gone... 'no.' the game just didn't have enough content. I personally hoped they were holding off until the game had enough content to keep Western gamers satisfied. I think at this point that IS the case, so who knows.
But I will say if they finally do announce PSO2 for the West and it's just the vanilla PSO2 from 2012 it will be fucking ridiculous. I know a lot of the added cross promotion costumes and shit will be left out and that's fine, so long as we get the new bosses, levels, quests and so on...
In a perfect world the western arm, whoever runs PSO2 from the West will be allowed to add their own cross promotions to the game, that appeal more to Westerners, like maybe WarHammer costumes or The Witcher or something...