In keeping with a roughly six month release cycle between major X.Org Server releases, the 1.17 release is likely to come around January of 2015. In Keith's 1.16 release announcement, he talked about a New Year's release.
Keith, continuing to serve as the de facto X.Org Server release manager, wrote in the announcement:
I'll start merging changes for 1.17 almost immediately. At this point, I think we're on a new-years release schedule, which would make 1.17 look like:
Merge Window 2014-7-17 - 2014-10-15
Non-critical bugs 2014-10-16 - 2014-11-30
Critical-bugs 2014-12-1 - 2014-12-31
This is just a proposed schedule; subject to change for sufficient reason.
With the merge window being open now through the middle of October, that's when the most exciting 1.17 changes will happen... Hopefully we'll see continued optimizations to the GLAMOR acceleration support, improvements to XWayland, and other goodies to materialize. The critical bug fixing window will close at the end of the year so hopefully in January we'll see the final release unless there's delays, which happens semi-frequently within the X.Org Server world but their hit ratio has been improving with recent releases.
Meanwhile, there's nothing new to report about any updated X.Org "Katamari" release, besides it being expressed last year X.Org 7.8 isn't being pursued. Stay tuned for X.Org Server 1.17 development news on Phoronix!