Just go through the tweets of Studio Walljump:
https://twitter.com/#!/Studiowalljump
Fall 2009: Game is finished, bug fixes only now
April 2010: Liight will finally be finished in May.
May 2010: Why won't this project DIE??!!?
Failure 1
August 2010: I think... I think we just finished Liight. A weekend of testing will confirm! YEAH!!!
September 2010: Liight has been waiting at Nintendo for final approval for a few weeks now; hopefully we'll be first in line soon!
October 2010: Well, the manual for Liight is approved, so thats one thing down. Now for the GAME. Should be hearing back veeeeeeerrrry soon....
Looks like we're going to have to take another shot at Lotcheck : (.
Failure 2Let's hope the third time is a charm!
November 2010: Managed to fail lotcheck again. We're getting good at that! Somebody remind me what time the charm is...
Failure 3
December 2010: Liight is FINALLY APPROVED FOR WiiWare! I will let you know the $$ and Date asap!
March 2011: Release in NA
So why were there these delays and failures? In August 2010 there was a mandatory SDK update. While the game would've passed lotcheck then, the new SDK "created" new bugs.