My two rupees:
1) If Canon did plan to release 7D II any time soon, it would release it before
70D. Playing the same game it did with Nikon on FF bodies last year: first release expensive camera, wait 6 month for current owners to upgrade, than release cheaper camera that has similar specs as old model + some new stuff (like wi-fi).
2) Current Canon's APS-C lineup has enough segmentation: 100D, 700D, 70D. It makes more sense to limit it to these 3 (+ old models) with price points below
FF cameras ($1500). And 60D obviously needed update (because it looked very strange on its initial release: with features like MFA removed most of reviewers called 'oversized rebel' or similar).
What Canon do need to release soon is another FF camera that would sit between current 6D and 5D prices (let's say at MSRP $2000-2500) -- to lure more users into FF world and to sell them more EF lenses (while they can). If Canon will be forced to release mirrorless FF with new lens mount (and they will have to do it, if Nikon will do it) that will create another 'bastard' member in EOS family (like EOS M), and another 'dead end' in the roadmap for EF lenses (like EF-M).
(After that they can re-release new and mighty 7D II with price point of $5000 and weight of 10 pounds for dedicated bird and sport shooters.)