It looks like ZFS crypto project has finally been integrated. It's been reported by other blogger here and the bug id: 4854202 ZFS data set encryption has been updated to reflect that it is in snv_149. Congratulations to Darren Moffat! - the guy behind the project.
It took much longer than expected. If I were to speculate I would say the integration was delayed on purpose so it gets integrated only after the public access to onnv gate was closed so 3rd parties like Nexenta could not take advantage of it before Oracle can. Hopefully once Solaris 11 is out we will see the source code as well. It also probably means that it will be in Solaris 11 Express as well.