Hear me out.
1. Zelda U was apparently ready to show at E3 2013 but they decided to not show it, in order to not draw attention away from games that are releasing this year. All the Nintendo games for this year have now been released and it is an ideal time to reveal new software. In a matter of 5 extra months, development must have gotten to a stage where it is in a stage to WOW the audience.
2. Wii U is not in an ideal position looking forward. It is lacking a buzz that other consoles naturally have due to being newer machines. Zelda U's premiere could be the kickstart to an amazing year that Wii U has in front of it. Just the talks amongst people will get gamers excited for Wii U in the holidays and set the stage for the upcoming year. It makes sense as a business decision for Nintendo and for gamers.
3. VGX formerly known as VGA Awards mostly showcases premier trailers of many anticipated games in the industry. Uncharted 2, 3 are perfect examples. They wouldn't let a single character release go against full video game announcements. This announcement will be big. Even if it is not Zelda, it will be a brand new game that we haven't heard of before. The signs just point towards Zelda.
You might say that Iwata has said previously that Zelda will be shown at E3 2014 but that doesn't mean that a preview, or even a teaser will not be shown earlier. Heck all console Zelda games in recent history minus Twilight Princess had some sort of teaser shown before the actual game release. This could mean either a CG Trailer or an ingame footage- I'm betting on a combination of both.
So what do you think? Agree with me or dump on my thoughts?