Actually, I believe on volume I (1988) it says that Vol II will follow
shortly. That was 14 years ago. I believe it was about 5 years ago I
came across a Faber press catalogue containing an actual photograph and
description of Vol II, for which orders 'would shortly be taken'. Yes,
the cover was pink in a strange move of decoration, with a photograph
of TSE in London leaning very dandily with a top hat against the area
gates, upon his first day, I believe, at Faber's (1925).
That actually may have been more than 5 years ago.
Now, if they actually have got it, and aren't printing it, I'd be
surprised; but you never know. Or perhaps they hopefully thought that
if they designed the cover and estimated a price, wrote a blurb and
advertised the thing, it might come out.
Those who want more information could write to Mr Craig Raine at
Oxford, whom I believe is intimately involved with the matter.