This is because a bug has been discovered in Android Wear which has resulted in Google furthering the delay of the release until it can be addressed. In a statement provided to 9to5Google, “We have started rolling out the Android Wear 2.0 update to Fossil Q Founder, Casio Smart Outdoor Watch WSD-F10 and Tag Heuer Connected. For other devices, the update is currently being delayed due to a bug found in final testing. We will push the update to the remaining devices as soon as the issue is resolved.”
Unfortunately Google did not mention as to when the update will be released, so for all we know it could be delayed by a couple of days, a week, a month, or more, but we guess users will just have to remain patient. As for the existing devices that have received the update, it is unclear if this bug will affect them, or if the bug is specific to the other devices that the update was meant for, but hopefully it isn’t anything too major that could disrupt usage of devices.