No confusion here, there is not a 2012 TRX700XX. Mags may say it, but either it is a misprint or they don't know what they are talking about. The first place you will see any info on a new 700XX is on Honda's website, and currently, it only lists the 08/09's. Honda has always liked to keep tight lipped on stuff. Sure, there may be a few rumors before that, but the first "offical" news will be from Honda.
I really think Honda will build the 700XX again. After all, they still list them on their website. How many of your local dealers can still get a new 700XX? They have been sold out around here for almost a year. Last March I spoke to the local dealer and they said they can't even get one, Honda has no more to give. If they had no intention of making them again, why keep the old model on the website? Problem is, since there was only two years built, I would hold my breath for any new updates for the next model. I would expect Honda to still sell the same thing for another year or two to test the waters. Depending on how they then sell will determine the future of the 700XX.
Doug