We are not wiping official servers when the pet system update is released.
We will continue to update testlive based on feedback on the new features and also do additional balance passes. In addition we are working on fixing several bugs reported by the community and would like to include these fixes in the pets update. This will take some time as we do not want to rush things. You will have ample time to play with the pets update on Testlive before it goes to Live.
That being said we are also working on a way to make it easier to check out new patches on Testlive (vs regular game). Assuming everything goes well we should have an update on this soon.