The 1320 does not use a Snapdragon 400. It uses a Snapdragon S4, similar to what's in the 920, 1020, 820, etc.
It's been ignored by a combination of "can't" and "won't." (yadda yadda "user experience")
I thought the FAQ was pretty clear there is no second wave, all other devices are either stuck on 8.1 U1 or in a dead-end version of Windows 10 Mobile.