Update, November 5th: Rockstar Games commented today that they'll have an update on the second trailer this week:
We're also making available the newest official artwork from the game that was featured in last week's announcement. Grab "Beach Weather" from the Rockstar Downloads page and look for much, much more to be revealed - including the Game Informer cover story later this week as well as an update on the release of the next official trailer.
Original Article: Just moments ago, a Rockstar rep posted a comment on their release date announcement Newswire article that Trailer 2 has been delayed.
It's stated that they are indeed working on a second trailer, but have been left completely without power in their NYC offices due to Hurricane Sandy. It's understandable that this natural disaster has delayed Rockstar's plans, but it's promised that they have something to show us "soon".
Just to clarify, this comment in no way indicates at what stage Rockstar were at with the second trailer, nor does it confirm it was intended to be released this week. It simply tells that unfortunately, the situation is out of Rockstar's hands this time and that they will launch the trailer as soon as they can.
We are working on a second trailer - unfortunately Hurricane Sandy has derailed our plans somewhat but we will have something to show soon. Its hard to be precise as we have no power whatsoever in our New York office. We hope everyone else in affected areas is doing okay.