That, Sevan, is the $1m question.
There seems to be 3 main factors:
1 - Copyright
A big issue seemed to be the legal formalities around copyright ownership. If you read the details on the link I posted to Commentary Press you will see that the current copyright holder has been working hard to establish that ownership and prevent unauthorised print and electronic copies from being distributed.
2 - Content
Since sorting the copyright it would appear the copyright holder has been working to make sure the manuscript is up to date and in a format suitable for modern publishing and has the correct assets (e.g. photos). This apparently includes the work required to support other languages.
3 - Publisher
According to my reading of the info on the website, the copyright holder is working with a publisher to get both print and electronic versions delivered and published. I also read into this that this also includes the global audience, presumably other languages as well.
Bear in mind this is just my reading of what has been posted online about this so I would welcome any corrections from those more knowledgeable than me on this.
The copyright holder has faced some criticism and comment on here since there are routes to doing rapid electronic publishing as well as low cost short digital print runs. I am sure that some feel there are different ways of approaching the project and would not do things in the same way.
The long and the short of it however, is that none of us are the copyright holder. We don't have the responsibility she has. It's easy to sit on the sidelines and say "you should do it like that" when you don't own the problem. Regardless of what any of us think, the copyright holder is trying to get there and we all hope the day that CoC is available once again is not far away.