Yes, it was initially set to come out in 2014, but it was decided that since it is such a dramatic change more time was needed to work out the details and the new program will be released in 2015.
I have no idea about the state stream, as in my state the is not state stream and all gymnasts compete either National or International stream. But I suspect part of the plan is that the levels will be easier so girls with less talent and less hours a week should be able to compete in the national stream.
I think the reason for removing bonus skills is to first of all discourage the repeating of levels. You quite frequently see kids in Australia taking 2-3 years to get through certain levels because they are spending time trying to master the bonus skills or time trying to get the,selves to a point where they can place against girls doing full bonus skills. Our kids are not getting to level 7-10 until well into their teenage years and many have little time or motivation to continue with gymnastics by then. I am guessing they hope that girls will reach the higher levels at a younger age and on less hours a week to avoid burn out.
Again the aim is to get more kids past level 4-5. It also makes it easier to coach. In our gyms virtually any coach can manage to take a squad of level 1-3 gymnasts to competitions. But from level 4 the coaches need to be capable of choreography for beam and floor routines. Also more time is needed to run each group. A group of level 1-3's can all practice their floor routines at the same time. While each level 4 and above will take the whole floor and 1-1 1/2 minutes to run their routine just once. Many gyms don't even have a full floor so they are very limited in what they can offer.
Many gyms do have a full floor but can't give it to a whole group that often as there are many groups training in their gyms.
I agree that it will make for much more boring competitions, although one ofthe arguments they are giving for this change is that it will make competitions better for spectators.
But I don't think kids will get dispirited having to wait until level 7 for their own routines. They won't expect it any earlier.