Has been announced, here.
Not much to say here. It looks like a smartwatch. The question with all smartwatches is whether or not people can come up with a compelling battery life and enough screen-space to be useful for anything of note. I reiterate my previous point that Google has lost confidence in Glass — their original vision for wearables was of omnipresent Glass, and if you’re wearing Glass, smartwatches are useless.