I contacted the City of Mission Viejo where the new store is opening, and they verified that it was being developed and that a Spring 2012 opening is planned.
Independent verification that things are moving forward is always a good sign. Just may be a few more months of patience required (unless other announcements are made leading up to the opening).
Chart seems to have leveled off in the .02-.03 range. Might be a good time to have some bids in.