As per the Expo, they used the word customer. They had their first customer in October 2007. That to me, constitutes that this has been released, but they are starting with a select group. Plain and simple, if there is a paying customer it is released. Now maybe that doesn't satisfy your version of what a release is, but the product is released if there is a paying customer. As to you thinking they are lying, I do not believe so and I wonder why you do? I dont think Paul has ever knowingly said something he believed to be false, or said something that he knew he could in no way deliver on. Have you ever created a piece of software before? Have you every invested in a company whose product is a piece of software? Are there ever delays? Yes, there are. Now just because a company plans to release software then delays it for some reason(bugs or other reason) doesn't mean they are lying. It just means that a deadline had to be stretched.
Also, Spooz doesn't have the support team in place yet to deal with a high volume of training and support needs. To release to a large group without these things in place would be a disaster. Thus I think their plan of a phased roll-out is a much better one than just releasing to satisfy a few disgruntled shareholders.