As DomA says, he went through a phase of thinking it might be February-April 2011 after going through a rough patch and some book restructuring around Christmas, but it's back to the end of this year and things sound better than they have been for a while. In order to get ToM out in November he needs to hand it in around July or August, which should be possible if he's at 85% completion now (although he's also said he's screwed up the progress bar because ToM is coming in at significantly longer than TGS, maybe 20,000 words or so longer).

What will be interesting, and might be worth someone asking at JordanCon, is what's going to happen with MEMORY OF LIGHT itself. We know it has more Jordan-written material in it, but Sanderson has also done next to no work on it at all from his massive late 2007-to-mid-2009 writing marathon. That to me suggests it's a lot less likely to come out in November 2011 and may come out later in 2012. OTOH, his assistant said on his message board a while back that Sanderson was going to 100% concentrate on MoL after ToM was finished and not work on WAY OF KINGS II until it was done, so maybe it's doable.