Is anyone expecting Sony to provide XAVC upgrade for NEX lineup and particularly FS100/700 ?

That's what we're all hoping, but the FS700R did not have XAVC in it's upgrade plans. At this point, it wouldn't be wrong to assume they're purposely leaving it out to not cannibalize sales of the F5 or F55.

I don't expect any bigger update for the current FS line.
The processing of the FS100/700 seems still to be 8bit only. XAVC is ready for 10bit and more, so wouldn't do much sense anyhow.

The FS700 has the RAW option which more or less surpasses the internal processing. If you need better codec options for your FS700(R) you need to wait for the CG Odyssey 7Q compressed update which will be around 3000 bucks for the Odyssey alltogether...

I expect Sony to bring out new 4k cameras in the FS league by the end of the year when the F5 sales go down...