Here in lies the problem stealtly they will flame the fires of Treyvon, cause riots this summer and all bets are off. I am still of the mind that there will be no election.. JMHO
I just don't see a scenario where Obama will be able to get away with canceling elections. This country held elections during a Civil War for crying out loud. I think fanning the flames this summer with Treyvon, Occupy movement, etc., will only backfire on the Democrats in November.
For some reason, the rise of the internet also birthed the specter of the cancelled election.
The opposition has speculated wildly about it since Clinton's first term, but it didn't happen with either Clinton election or either Bush election. Bush's third term didn't happen either. Obama will either be elected for a second term or he won't, but there will be an election.