It's not shipping yet. But should be soon. The catalog of sounds is huge, and required some additional checking/listening to be sure that all things matched up. I've heard it will be shipping any time now.
I can't comment on the reasons I've been given for the delay...that's Sony's tale to tell.
The sound library is a library straight from the Sony Pictures vaults, sounds used in major motion pictures for any number of different effects, scenes, etc. Never before accessed, never before heard in this context, Sony is making some wonderful things available. Even more great things to come in the near future....