It's in limbo in the sense that most of major additions we wanted to put in got put into the FCTF-Modern revision, and the rest of it would mostly be sample settings and sample characters. It's still something I'm interested in doing, but . . . well, I haven't really had a chance to run an ongoing campaign with the rules, just playtests and a few PCs in my D&D game who took a few levels for fun powers. It's just not on my mind as much as when I first worked on the book, so I don't have the inspiration.
I've got material people submitted, and I always did want to include the stats from the two storyhours that used the rules. So, someday.