The key message in the WSJ piece is here:
It is unclear when the products will be available. These people had expected Oracle to discuss some of the offerings at an event next week but now say an announcement will instead take place at a later date.
Since we're all speculating I'll throw my hat in the ring.
Larry Ellison will indeed make a cloudy announcement around about 8.30am ET 12th May. Why then? That's about the time Leo Apotheker, co-CEO at SAP will be keynoting SAPPHIRE attendees and perhaps sharing the timeframe when SAP's cloud offering, Business ByDesign might be put back on the release map. Or not.
Either way, Mr Ellison rarely loses an opportunity to throw spoilers in SAP's direction. Personally, I'll believe what Oracle says about on-demand offerings when I see them in the price book.
As an aside - any bets on the code name for Oracle's cloudy aspriations? My guess: ThunderCloud.