Is that Harriet is under contract to deliver a final manuscript to TOR one year after the last WOT book has been released.

It was never slated for release this year but for 2014.

No idea what Tor plans to do with it. If they opt for an over-sized hardcover, full color edition they could decide to wait for the holiday season when such books sell much better, I suppose.

No details have been given concerning the art, aside from the fact Harriet promised it would be illustrated and better than the BWB's. I've no idea if the project will be under the art direction of Irene Gallo at Tor (which would definitely be for the best...) or if Harriet has contracted artists herself (for the WOT main books, the maps and icons were done by an artist under contract with RJ/Harriet, the covers were the responsibility of the publisher).