On the other hand, I don't see Google sitting around while the MPEG-LA derails their gravy train. Google stands to lose a lot if they have to use a format other than VP8 or H.264 (in bandwidth costs), or if they have to pay the H.264 licensing fee for every YouTube video, Android handset, and Chrome download.
Sadly, I think Google has more to lose than MPEG-LA, because they are the company that is actually doing something useful. Patents encouraging innovation indeed...
Oh, definitely not. I have to wonder what they can do, though? They don't offer legal indemnity (probably can't, who knows how much that would cost?) and it might not be easy for them to insert themselves into any lawsuit the MPEG-LA filed.
Even though they're the obvious target, there's nothing stopping them from going after the small fry to set a precedent, or just doing a SCO-style shakedown (only they'd presumably be more competent ... at least, it'd be hard to be less competent).
If I had to bet on what's keeping the other shoe from dropping, they either are still working on finding patents that might kinda-sorta read on VP8, or they're waiting for Bilski, with some possibility of both.
But that's just my guess. I mean, who knows what they're thinking?
Sadly, I think Google has more to lose than MPEG-LA, because they are the company that is actually doing something useful. Patents encouraging innovation indeed...