LOTRO license expires in 2017 and turbine has never ignored questions on renewal for years. If they were going to renew the license it would almost certainly have occurred already. They are likely to only provide short notice on it's shutdown in order to maximize revenue.
If it's Turbine/WB's decision on whether or not to renew it would have been in their best interest to be open and tell the players to recruit friends and bring up the numbers so that they can justify paying the likely heavy renewal fee. If it's up to the license holder, then maybe they've already indicated that they are unhappy with the profits from LOTRO and have no interest in renewing it.
Either way, if you've considered trying or returning to LOTRO I'd say now is a great time. I've been away a long time but feel like I should check out what they've added over the years before it's too late.