Update: It seems Episode 2 will make March, it'll just be a little late.
Original: Life is Strange Episode 2 was due to release on March 13, however it appears it's now been delayed, with no word on when it will arrive.
There have been rumours of Ep2 delay but development is on track and we're looking to release it before the end of March.— Life Is Strange (@LifeIsStrange) February 27, 2015
There's no explanation for the delay, but perhaps it's to ensure a little more polish to the story and characters.
Hopefully we'll get word soon as the first episode was a decent start.