Just a quick FYI - Check out the Twitter @HatInTime - They update that almost frequently in ways that wouldn't make sense as Kickstarter updates.
I only guess that it's taken this long for the game to arrive because UnrealScript is dead. Jonas Kaelerv is only one programming the game and they were unable to find any secondary programmers.
I'd suspect the game is dangerously close. Recently, Jonas took to Twitter and posted the total number of lines of code in the game (160k something), in the context of it's finished. Additionally, on separate occasions he's stated that both the game's content is complete and that they have a 3rd Party studio testing the game on various hardware/OS's.
Maybe it'll be here by the end of the year? Who knows. Keep a tab on their Twitter to check progress.
Also, just to clear a rumor, Grant didn't 'leave'/'disagree' with styles or anything. After any Kickstarter, 'X' amount of payments fail/invalidate, so in total they only raised enough for two Kirkhope themes.
Also, about the 2013 release:
They weren't expecting to raise anywhere near as much as they did, so with increased funds came increased scope. Unfortunately, that takes extra time BUT I'd much rather have a larger game than a sooner one. :)