Seeing that it's already mid-July and there is really no word on Paranormal Activity 5, a delay might be in order for that reason alone. Each of the previous movies has been filmed rather quickly but despite the box office numbers, the reception and feedback has steadily been declining along with the releases. If the film is delayed it is likely that most if not all of it will be re-shot. Some are guessing a possible January release, but that isn't confirmed. Either way they need to make up their minds pretty quick.
Either way, I personally think this is about money and not about them "second guessing." Horror films released in January have become quite profitable so it would make sense for them to try and capitalize on the time frame and move away from the overwhelming Halloween season. Also bear in mind that this October we will have Carrie and Oldboy that it will have to compete with. Early January is pretty vacant so they probably see it as an opportunity to get the post-Halloween crowds back in the theaters in January like they did with Texas Chainsaw 3D and The Devil Inside.
I'm also not expecting much anyway. Paranormal Activity isn't a great franchise. The plot is weird, the characters are lousy, and they aren't scary. I think people are starting to realize they suck.
UPDATE [7/17]: Paramount officially announced they have pushed Paranormal Activity 5 to January 3, 2014. It will compete with Fox's horror film Devil's Due. Paramount has filled the October 25th spot with Jackass Presents: Bad Grandpa.
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