The first part of the statement is timeless as it could claim a revolution from 200 years from now and still would be true. As for Change, a nation large and complex as china is constantly changing. The media just doesn't report on it or places it together,forgets to do a update. And it is not consistent path, it will have it's ups and downs. With different factions completing for it's own interests.
Changes slow or fast is still change, for better or worse, it's still change. Because china didn't become the world second largest economy by not changing.
Although the government of China is still somewhat repressive of the citizens of China, it has made great strides in its economy and its entrance into the world economy and is slowly becoming more democratized. This is leading to the citizens of that country slowly gaining more freedoms both in their living conditions and in travel outside the country. The revolution that will happen in China is a philosophical and technological one and is already in progress, much to the benefit of the citizens of the country.
No, China is not headed for revolution, because China's developments, including economic and social, have happened within its political structures. Although China will continue to develop, it will likely not spur a revolution. Chinese citizens are very dependent on their government, so the people will be very reluctant to initiate a massive social change, especially since China's economy is currently developing.