They are working on a new album. My guess is that any Metallica pin would coincide with that release (2014 sometime).
I grew up in the bay area and saw them a few times live in their early days where they would scream for everyone to bootleg their concerts. It was a great way to get the exposure. But its left a really bad taste that they would take such an opposing stance once they've made it. No telling how fervently they will chase violators now that they bought the rights to their catalog. I would hate to be the poor licensing manger at Stern and have to work with these guys.