The reveal comes by way of a new post by MrRudy (aka developer Ruud van de Moosdijk) on Terraria’s official forum. It is there that the developer shared a wealthof information regarding the current state of the patch’s conversion, including when players could expect to find it on their platform of choice.
“the PS3, X360 and Vita version will be updated simultaneously. The actual release of all three versions might be off a bit because they go to their own individual certification processes.”
Additionally it seems that some extra features will be included in the 1.2 update such as the festive Halloween event, as well as various rebalancing to harmonize the effect that will be brought on by some of the console-specific content. However the forthcoming update will also bring a change that will be distinct to the PlayStation Vita version, one that will see rear touch control become an optional feature.
“Terraria “1.2” for PS Vita will have a new option to turn the back touchscreen on or off, seeing as it is about a 50-50 in the community between people that love it or hate it, that seemed to be the best possible course of action.”
Currently there is no word regarding a release date for update, but you can be sure that when there is you will find it here at TVL.