I just did some basic testing of 1.11 and 1.2 for the 'abundant' setting for habitable planets. Using the cheat mode to reveal the map and auto regenerating several maps with all other factors constant, I compared the number of habitable planets and star types being generated with both the abundant and common settings under both versions.
Whereas with 1.11 I noticed (as have several others, judging by what I read in the forums), that even on the abundant setting there were very few habitable planets being generated, with the majority of star systems having zero non-0 class planets, I found with 1.2 that there was a marked difference, even between common and abundant, with under the abundant setting almost no systems having no habitable planets, the vast majority of stars being orange or yellow. For example, a typical abundant large map with stars set to common ( had approximately 10 class 1-5 world (2 rings on 2-D map), 7 6-8 (3 rings), 16 9-11 (4 rings), and 10 12+ worlds (ring with solid white circle), not including homeworlds. This was an enormous difference from a typical 1.11 game with the same settings.
So, it seems that the 1.2 patch has either reworked or fixed the bug with the habitable planets setting, thankfully.