From someone who purports to be ITK. I cannot vouch for them personally, but they have certainly been right about other things -
The hold-up with James is down to significant wear and tear in both his ankle and hip, discovered during his medical. The EFC medical team have said it is highly unlikely that the club could get more than 20 games a season out of him. The has led to renegotiations on the terms of his sale.
(Although I have to say this can't really have come as much of a surprise as looking at his career, he has rarely made more than low 20's in appearances whichever club he has played for).
From what I understand the transfer is still going ahead. Take it or leave it.