"if the requested stay is a settlement proposal then both sides would have presented".
Not necessarily, IMO. If there is a sense of urgency (which there should have been, since the original Stay has expired), the fastest way to get paper before the Judge is for one of the parties to file and include a statement that the other party agrees (and if the attachment were a signed settlement agreement, such agreement would be more than obvious). Otherwise, time would be lost while lawyers on both sides haggle over the specific language of the filing, and gain the necessary signatures for the joint motion.
"...if it is a stay for the purpose of delay then we need a MSJ right now!"
I completely agree! But I could see good reason for our team to wait until JW officially says "No!" to the defendants, otherwise it might appear a little pre-mature and perhaps stepping on JW's toes.
JMHOs,
SGE