The meaning of launch is clear
We are speaking about a decentralized application, so let's look at the wikidictionary: https://en.wiktionary.org/wiki/launch
Multitude of definitions are applicable there but are all basically "to put in operation".
So this may bring us to the next definition of "operation" https://en.wiktionary.org/wiki/operation
"The method by which a device performs its function."
To perform its function the software must necessarily be running, so if the Augur team announce a launch, but the contracts don't finish deployment prior the deadline, Augur would not have been put into operation so it should resolve as no.
If the Augur contracts are deployed, but people can't access it, or know about it, Augur would not be able to perform its function (prediction market).
If people can't predict on it, it isn't functioning, so it isn't operating so it isn't launched.