You asking this question makes me wonder, if Motorola have delayed the update yet again, or is it NOW that you are finally becoming impatient.
Anyway, the features on CM12 works fairly well. Ok Google hotword doesn't work from totally locked phone. But I didn't used to use it much anyway. Besides, it does work from launcher and doesn't have the delay of waking up the phone if used on totally locked phone. So not big deal.
Active display is replaced by Ambient display (first came with Nexus 6) which is more functional than the Active display that Moto X originally came up with. Watch a demo of it here: *www.youtube.com/watch?v=5TyhaOjME5g
Twist to open camera also works, although the camera app is now changed to some other app. But I use to like the default camera app which use to come with Stock ROM on Moto X.
Haven't done much to explore further, or to update the ROM in 3 weeks (updates come each night as nightlies). But the ROM I installed weeks ago, works pretty good, and with the goodness of Lollipop and features of Cyanogenmod.