The deadline for most US franchisors (those with December 31 fiscal year ends) has recently passed. Under the FTC Franchise Rule (and similar laws in the states with franchise disclosure laws), each franchisor must update its FDD within 120 days after the end of each fiscal year end. There are no exceptions.
If your 2012 FDD is not ready, then you must suspend all offers and sales of franchises ("go dark") until your 2012 FDD is ready.
If you disclosed to any franchisee prospect using your 2011 FDD before April 29, 2012, but the prospect has not signed the franchise agreement yet, then the recommended practice is to wait until the 2012 FDD is ready, then re-disclose and wait the applicable cooling off period(s) before signing a franchise agreement and accepting any money for the sale of a franchise. Otherwise, you risk a claim in the future for failing to disclose material changes since the 2011 FDD.