Wizards of the Coast, in their draft Open Gaming License 1.2 include the following notice:
NOTICE OF DEAUTHORIZATION OF OGL 1.0a. The Open Game License 1.0a is no longer an authorized license. This means that you may not use that version of the OGL, or any prior version, to publish SRD content after (effective date). It does not mean that any content previously published under that version needs to update to this license. Any previously published content remains licensed under whichever version of the OGL was in effect when you published that content.
This is related to OGL 1.0a section 9 (found here, for instance):
Updating the License: Wizards or its designated Agents may publish updated versions of this License. You may use any authorized version of this License to copy, modify and distribute any Open Game Content originally distributed under any version of this License.
Is Wizards able to do this? I mean, obviously they can say that they deauthorize it, but does that have any legal weight? Supposing that they publish this notice as is, must all derivative works of say, D&D 3.5, be published under OGL 1.2?