I couldn't find much about this but this article "Motorola has been fairly silent since it’s release of the Moto 360 2nd Gen on September 14, 2015. As the first generation smartwatch was released September 5, 2014 many were expecting this September to be the release of the 3rd generation smartwatch, but that obviously wasn’t the case. Even though it’s now October, nothing has been officially released. Our sources tell us that it’s more likely we’re looking at a January 2017 release date." -http://nextreleasedate.com/smartwatches/moto-360-3rd-gen/ makes it seem that it might be about Easter.
UPDATE
"Motorola won't announce a new Moto 360 smartwatch until at least the spring, TechRadar has learned."
-http://www.techradar.com/news/dont-expect-a-new-moto-360-smartwatch-until-at-least-spring-2017