Well, for what little it matters, here's my personal opinion of what's up with Shiek and Zelda.
First off (and I'll say this right now), the smashbros. website hiatus isn't some suspense-building tactic. It's their New Year's Vacation. This is something that is done almost globally. New Years rolls around, and the workers get a week or two off. I'm pretty sure even the hard-working Sora Inc. team will need a vacation after all that work. Things like New Year's Vacation happen in America (several stores in the local mall around these parts are closed until January 7th for the same exact reasons), Canada (same thing), Japan (ditto), China (albeit on a different date), and etc. No cunning ploy, just an end-of-year, hang-out-with-your-family-and-friends jig.
Moving on...
I can personally think of several logical reasons as to why Zelda/Shiek updates are taking forever. As many people can tell you, the two are not a balanced pair in Melee. My personal opinion is Sakurai hasn't posted anything on the subject because he's probably having trouble balancing the strengths and weaknesses of the pair without overcompensating like in Melee, and he doesn't want to commit to anything in case it doesn't work out. They DO have a deadline, you know, and it's only slightly more than a month away.
Wait... now that I think about it, there's only a little more than a month away! Wouldn't this be the part where they start mass-producing it and working out shipping scheduals with the distributors? If that's the case, they wouldn't have time for more than a few minor tweaks before they have to send in the finished product for copying! That would mean they would already be finished with Zelda by now...
Oh yeah, I just remembered. I'll have to check again, but I'm pretty certain thay've only put move updates for the characters if there was something significantly different about them, such as:
Mario: He's got F.L.U.D.D.! Notice how there's only one special move here, as compared to the usual two. Also: Final Smash!
Pikachu: Final Smash. Pikachu's special moves are more or less the same as they were in Melee, and do not have their own updates.
Link: Check out his new weapon designs! Also, notice how the claw shot was put in with them, not because it's a special move, but because it looks different and functions differently than it did in Melee. + Final Smash
Kirby: Kirby's sole special move update, Inhale, looks to be more devoted to showing off his new hats than explaining how it sports a different function this time around. Although I guess you could call the Wario, Snake, Pit, King Dedede (and etc.) new funtions for his Inhale move... (not to mention that I've seen requests for Kirby hats for a while now) Let's not forget Cook Kirby!
Fox: "See my weapons, bright and shiny! Mess with me and I'll kick your hiney!" And the Final Smash, of course.
As you can see from the above examples (I'm too lazy to post all of them), there has only been an update for special moves if they have been modified in some way. Therefore, it can be concluded that since we haven't seen any special move updates for Zelda, her special moves have not been altered in any significant way. i.e. Shiek would still be around. HOWEVER, there's still just over a month left for new updates, so this isn't absolute...
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. As for you Luthien I will probably use it again later sorry but, I would definitely make you a totally new one if you want, just pm me the info and I would be happy with making you one.