The failure of H&F certainly prompts this question.
Of course I don't know and, despite having 2 M8's, an M8.2, and an M7, I don't much care. I've no interest in the camera myself.
But the bigger, more salient question is whether or not Leica will survive the current global economic collapse. Leica and H&F have many parallels. Most significantly, both were/are principally supported by deep-pocketed individuals whose coffers have certainly been dramatically diminished during the past months. H&F's benefactor decided to implement a stop-loss, probably a very wise move. Can Leica's benefactor, who has committed perhaps an order of magnitude more wealth towards Leica than the H&F benefactor, weather the storm? Rumor has it that Leica's sales have ground to a crawl.
By most knowledgeable estimates we're at least a year away from meaningful economic recovery. That's a very long, very costly draught for such a small, private company to endure. Bringing a whole new uber-pricey camera system to market will be extremely expensive.
Personally, here are my bets.
1. I give a 40% chances that Leica will exist as a stand-alone company, or even as a brand, in 2015. The issue of the S2 is moot, if anything it's a millstone to them.
2. If Leica survives I give a 50% chance that Leica will be due to its ingestion by Panasonic, although Japan will be facing some extinction-class economic calamities in the coming year or two.
So I am clearly pessimistic about Leica's future as a company, let alone the introduction of a new model of camera.