Gary Illyes from Google said on Twitter that the Penguin refresh or update is still not ready. He said "penguin is not ready for primetime yet." Here is the tweet:
@AGr4ves penguin is not ready for primetime yet.— Gary Illyes (@methode) October 22, 2015
So it might not happen by the end of the month, which is a shame because it is currently over a year since the last major Penguin release (v. 3.0). In fact, it is now over one year and 6 days ago since there was a full Penguin update. Yes, there were tweaks early on but nothing serious for several months now.
I was hopeful it would be this month but that isn't looking promising now.
Forum discussion at Twitter.