Is it possible or will it be a feature soon? I know I can essentially accomplish the same thing hiding buttons, but I have some very complicated object states in my interactive swf files and would like to publish them to PDF so they can be viewed on an iPad. Will this feature ever happen?
Don't hold your breath. PDF is now an ISO standard which means that it won't change quickly. There is no concept in PDF to support object states.
Also you should know that the PDF readers on the iPad don't support much if any interactivity.
You best best is creating a publication with the Adobe Digital Publishing Suite. That would be more difficult to learn than PDF and more expensive. To learn more about it, see this link:
This technology supports slides shows like you can create with the Object Styles panel.