I e-mailed E-MU about the upgrade, here's the reply I got from them:
'The release of the Audity version 2 os has been delayed by the final software
development of the Proteus2000 product. The Proteus 2000 has been finalized so
we will be finishing the Audity software (speculated release January 1999).
Emu/Ensoniq Tech Support'