The project will be the joining of Auditor and Whax, a bootable Linux distro. From what I understand, the beta will be released on the date you mention.
Good news for Auditor fans is that EH-Net's own columnist Justin Peltier will be working with Max Moser to do a continuing series for 2006 on Backtrack. Each month we will feature sets of tools that come built into Backtrack and how they can be used to accomplish particular goals such as pen testing, forensics, footprinting, etc.
I'm excited and can't wait to start publishing them.
CISSP, MCSE, CSTA, Security+ SME