Generally, the update comes into effect 1 July every year. So it looks like 1 July 2014.
http://www.governmentskills.com.au/news/29-cross-sector/152-skilled-occupation-list-sol
However, I think that any changes will be announced a bit before then, but they will take effect from 1 July.
My 2 cents:
At this stage, unless the processing time for CPA is very quick, holding off until you hear about any changes makes sense. Otherwise you won't get an EOI submitted in time.