The current case is definitely addressing both the wrapping...

The current case is definitely addressing both the wrapping machine issue as well as the broader breach of contract claims and counter claims. However, the YOW update on 5 April states that the issue of the wrapping machine would be decided separately (bi-furcated) in an expedited hearing set in May. So we have no idea when the broader contractual issues will get to hearing (if they do).

Whetstone's alleged breaches didn't seem that clear from what I read and it's hard to go back over the lodged documents because they keep disappearing and having to be requested again. Whetstone and Yowie's arguments that they did or did not breach are set out in the Yowie update on 5 April, not much more I could add. They also allege, in the counterclaim, that Whetstone had engaged in material breaches of the contract prior to their termination but provided no details whatsoever.

Without being able to read through the contracts in detail it's hard to draw conclusions on relative strengths of the case and that would possibly only get you so far if you don't know the law around contractual interpretation in the US. At any rate, the answer would be unlikely to be clear cut.

I tend to agree with Humble, if Whetstone is successful I would guess damages in the order of $1-2m. I wouldn't think this would be that bad an outcome (nothing to cheer about but not terrible). If they were required to pay now or soon it would definitely hit their cash in hand and potentially throw a spanner in their plans but if it takes 12 months before the issue is finally decided then, all going to plan, it should not be too significant if revenue is where people hope and expect it to be.