Blizzard removed the mention of additional character slots to be available with Patch 10.2.7 from their blog post. This likely means this change won't be happening with Timerunning: Pandaria.
Originally, Blizzard had mentioned in their announcement that additional character slots would be available with Remix: Mists of Pandaria. As Remix plays on normal realms, players are limited to the existing 60 character limit per WoW account. Thus, if someone is already capped on their character count, they will need to delete a character to play Remix: Mists of Pandaria, as the game mode requires a fresh character.
It could be the case that they are still going to implement this change ultimately, as PTR changes happen often, but it is unlikely as the mention has been removed from their announcement blog.
Original Announcement
Create a new modern World of Warcraft character to undertake your adventures in Pandaria, collect a variety of powerful new items and transmogs, then take your transmogs with you when you continue your adventures in World of Warcraft®:The War Within™.
Additional character slots will be available so that you have room for your new fully leveled and fully geared hero to join you in your continuing adventures through the Worldsoul Saga™. All Remix characters created during the event will convert to a standard character to play within modern World of Warcraft at the end of the event.
Current Announcement
Create a new modern World of Warcraft character to undertake your adventures in Pandaria, collect a variety of powerful new items and transmogs, then take your transmogs with you when you continue your adventures in World of Warcraft®:The War Within™. All Remix characters created during the event will convert to a standard character to play within modern World of Warcraft at the end of the event.
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