Actually, Google’s Gary Illyes said that a refresh Penguin update would soon be seen; may be by the end of the year. Also, he says that it would be real-time version of penguin algorithm.There is no such date known, but it is expected to come soon.
At one hand, where the sites were earlier looking to protect their website from Google penalty, on the other hand, with this news, every website owner might be looking to be protected from this new update.
However, according to sources, the goal of the algorithm would be to be real time.
This implies that the moment Google will discover that a link has been disavowed or removed; the new real time Penguin algorithm would process the same within real time.
So, it would be now quicker to recover from Penguin penalty.