Just saw a Favreau interview minutes ago. He didn't say much about the release being pushed back. He did say Garry Shandling plays a porcupine or summat, and a mere month or two ago wanting to re-loop his lines, going as far as sying he would come in and adapt lines to the CGI critter's mouth movement. He did so, and in Favrau's words "Really DID improve it, and he killed it!" Disney has much time and money invested, plus as Jungle Book is one of their long-term properties they would certainly appreciate getting a larger cash flow going. Don't know if this is 4th or 5th or so, but Jungle Book has been a consistent project, but Mowgli never got popular enough to become an amusement park ride.
If it works, I hear "Mowgli's Jungle Boat Ride" in the future.