I have a feeling there are technical issues behind this, and the postponement is supposed to make everyone happy (yay, more coins).
That's my thought as well. The development is behind schedule, so they have to keep putting off the introduction of the actual coin.
Although, if they just don't release a wallet, they can just relabel HP as PC, divide all amounts by 400, and do the "conversion" without an actual coin in existence. I'm not sure what technical issue would prevent that.