When is this announcement going to take place?

I am getting a bit hyped, but knowing Nintendo I think it's wise to keep expectations low and just maybe be pleasantly surprised. We'll see.

not getting my hopes up ....

I'm still pretty much certain it won't be, based purely on Nintendo's history, but I must admit that video really got me thinking. Prove me wrong, Nintendo.

You should watch the video completely, he raises a lot of very good points. And it does make sense seeing reggie wearing zelda jacket and posting a master sword picture on Twitter. Also, Aonuma talked a lot about zeldaU in November on how he wanted to impress people etc etc. Right now, all signs are pointing towards it and my guess would be that they said "new look at an upcoming Wii U game" to perhaps surprise people or they simply just didn't word it properly. But we'll see I guess :P.

I´ve seen this type of comment a lot lately,wich means people already know that when something makes too much sense, Nintendo will do the oposite. And that´s exactly the reason  why Nintendo will announce Zelda U at the VGX, because they like to do things that people do not expect. People are expecting Cranky Kong as a playable character because showing a Zelda will make too much sense, so, they will announce it. I hope i made myself clear :D

They should announce Zelda U, but they will probably just reveal Cranky Kong for Donkey Kong Country: Tropical Freeze. I'm hoping that since Cranky Kong was already leaked, they will show something else instead, but they probably won't.

but if we expect them to do the unexpected by making an unexpected announcement that we didn't expect because we expected something else, wouldn't that mean that the opposite will happen?

Nintendo should really take advantage of this opportunity to announce The Legend of Zelda for the Nintendo Wii U!!!

I think it's a metroid game.
They just released a zelda game for the wii-u (well, re-release HD) but you get my point.
Way too early to reveal another zelda (that will happen at e3, maybe).
I think it's prime-time we see another metroid game by Retro Studios.

Also with Wind Waker HD and Link Between Worlds just releasing, interest in Zelda could be at a high point so showing a huge epic HD Zelda could be a wise choice.