Right, they do have the material for it. They recorded most of the Weathered tour and designated three shows durring the last leg of the tour for the purpose of a Live DVD,
Creed DVD Coming. So to answer your question, yes there was suppose to be one and one was in the works.... but I wouldn't hold your breath.
That was a direct quote taken from Micheal off another Creed forum, so if you want more information, you know where to go. "Are we there yet? Are we there yet?"