we’re currently sorting out a graphics driver problem (with the current kernel, most HDMI displays are completely garbled). Once that is fixed (hopefully later this week), it is ready for release.
Sources will definitely be released; essentially the tree consists of AOSP 5.0.2 + device directory for BoardConfig etc. + kernel + build system modifications to allow building the kernel as part of the OS build process instead of relying on prebuilt binaries. No big modifications required.