Or perhaps we haven't had a CJK user interested enough in using textwrap to provide the needed enhancements.  It seems like there is interest in solving the related problems recently, so perhaps some progress will be made now.

The fact that you view it as a bug does not mean that it is a bug from the point of view of the python project.  Every enhancement could be considered a bug, but we have a strict backward compatibility policy for maintenance release (which python 2.7.x is) which follows the semantic versioning principle that the API does not change in a micro release.  According to Serhiy, fixing this correctly will require API changes.