Overall, I think the main story line of Season 2 will be Falme. I don't think they'll include Tear and Callandor until Season 3.
Why Falme?#
It's the next big event in the books. I think that having five locations (Fal Dara, Tar Valon, Caemlyn and Falme and something in the Waste) will push the budget for the season.
Why Not Tear until Season 3?#
Having Falme and Tear, two big events, might be too much for one season. I'm pretty sure it will be included in general because they already gave us a glimpse of Tear in Episode 106's cold open and I can't see Rafe teasing us with just that glimpse and not letting us see the whole thing later.
Plot-wise, Why Falme?#
Other Predictions#
There are others out there who have their own predictions. I'll include them here as I find them.