So in the new Christmas update, Christmas trees spawn presents that give 5,000 elixir, and I have had my own share of these. I have 4 trees and have opened around 30 or more presents. What I want to know is: are they still producing presents?
For the 2014 Holiday season: no, there will be no more presents spawning.
If you tap on the settings icon (bottom right), and then tap on the News tab, you should see a news entry titled "Happy New Year, Cheif!" The text of the entry states that the Holiday events are over and that the Christmas trees have stopped spawning gifts. In addition, I haven't seen any new presents spawn for several days, since that news entry was pushed out to players.
As soon as a builder of mine frees up, I'll chop the 5 trees currently residing in my village.