That means that they believe that God has reneged on his promise. I believe that God guided the preparation of the KJV; any other position is a position of unbelief a one level or another. The 'modern' translations are part of an incremental attack on God's word, and their acceptance is evidential of the prophecied falling away.
Both cannot be right; if the modern translations are correct then there was a long period where the world was without God's word. Do you believe that?