Nope, especially now that they've gone indie I don't think it will ever come out as a real documentary. Maybe some of the footage belongs to Interscope and they don't even have the rights to release it. Remember when Tom said he had to pay a shitload of money to their old label just so they could use The Adventure on their Angels & Airwaves documentary? Also they have more important things to do right now, like touring, maybe writing some new songs, preparing everything for future tours or a future album, than caring about finishing this documentary from 2009.
However, the footage does exist so I'm sure they will release parts from it somehow, like the live performances on Youtube maybe. But I don't see a real movie with a DVD release happening.
I'm not even sure if the footage is worth seeing. I mean the performances from 2009 and 2010 were all soooo bad because of Tom's voice. And back then their chemistry wasn't as great I think, so the behind the scenes footage probably won't be as enjoyable to watch than the Urethra Chronicles.
I wondered this a few months ago. I know people are going to buy it, obviously. But, had HND$M RND$M put out "The Blinkumentary" shortly after the 09' tour, and compiled all the footage, audio, interviews, etc., I think a lot more people would have bought it. I'm going to buy it if it ever comes out. But, just a thought.
I guess, for me, I was more excited for it back then for the idea that we'd get a better look at why they broke up, what brought them back, etc etc. But now that it's been years and there's countless interviews on the subject, my interest for this has gone down a bit. Maybe I'm just bad at explaining myself, haha.
You are right though, I still bust out my VCR from time to time to watch the first Urethra Chronicles.
I see what you're saying regarding all the interviews and such they have had over the long period of time it's taken to make this damn thing. More than any of that though I was just looking forward to some good ol blink shenanigans.