My understanding is that Agents of Gaming was doing fine with Babylon 5 Wars until Warner Brothers decided to pull the license. I can't say what happened with Chameleon Eclectic since they went belly up in the middle of their release schedule for The Babylon Project.
In general I would agree that B5 is somewhat cursed. especially after the Crusade fiasco (I still refuse to watch TNT because of what they did) and sci-fi failing to pick up Legend of the Rangers (which didn't really look that great, even to me), but its really no more cursed than other sci-fi shows. The original Star Trek was cancelled 3 years into its 5 year mission and it took more than 10 years to get the first movie made (many would argue that the only reason ST:TMP was made at all was because of the success of Star Wars), Battlestar Gallactica had its budget slashed in half after 1 year and lost most its major cast members as a result (Battlestar 1980 was a joke), The Star Trek: The Next Generation movies have been underperforming in the box office, Farscape is cancelled, the X-Files lost its star 3/4 of the way through the show's thankfully lengthy run, and Firefly lasted a total of 10 episodes. By comparison, a successful 5 year show that ran more or less as planned should be considered a huge success.
Also, due to scifi's daily showing of B5 goodness, there are more people that watch and respect the show now than when it first ran. Much like Star Trek, it is becoming a success in syndication. Because of the increase in popularity, I think a new D20 based B5 RPG will do well, especially considering the relatively low numbers of sales it takes for an RPG to be considered successful. My only fear is that the price of the license might make it impossible to make a profit from the game, and it will get dropped despite decent sales.
