1.2.0 is probably 4-5 weeks away, and 1.1.0 1-2 weeks away. Not everyone needs winter boots with tread, some are happy with sandals on the sandy beaches. 🙂
The problem with the Variable products is that WooThemes rewrote their variable/attribute code in WooCommerce 2.4, which is completely different and we had to start over from scratch. Otherwise, it would have been in the first release.