I got an email that the Grimm Vinyl figure is now released in the shop, adding to Ruby, Weiss, Blake, and Yang. What I'm really wondering though, is why didn't Rooster Teeth license RWBY to Funko POP! and Dorbz? I know that they would have to share some of the cut, but the Funko style is very similar to what they are releasing now (especially if you compare it to RWBY Chibi) and since Funko has mainstream appeal I'd assume that it would give the show (and by extension RT) more exposure.
(BTW, still waiting on a Pyrrha Vinyl)