Have not heard much lately.

We won't know until the developer officially states that they have canceled or suspended work on it.

They should put it on hold until it becomes a TBS :(

Hopefully they can reuse the assets for another IP, at least that's what I would have done from the start. Heck, the FBI vehicle in the game is called the Enforcer. First, bad memories anyone? Second, why would you reference Enforcer?
 
I'm tempted to think that the mass negative fan reaction scared them into rethinking or putting it on ice. As an X-Com fanatic my reactions were why stick an X-Com title on a Bioshock looking FPS? It seems as if they didn't take a good look at Enforcer (a Third Person Perspective shooter) and its sales/reception either. Enforcer itself had an interesting "character look" for the robot player character I'll say that, but everything about that game was god horrible.

I hope. Maybe they'll keep the style and rework it into a tactical game, where it belongs.

As an X-Com fanatic my reactions were why stick an X-Com title on a Bioshock looking FPS? 

I wouldn't start to throw dirt on the X-Com reboots corpse until after E3. If we don't hear anything out of it there then I will begin to worry.

A true X-COM fanatic would know that any good game with the X-COM name on it would be good for the brand and increase the chances of a true reboot.  I'm an X-COM fanatic, you're more like an X-COM hippie.  A turn based strategy game on a brand that has been dormant for years is a much harder sell than a fps promising to bring back some of the x-com features fans remember. 
A true X-COM fanatic would know that any good game with the X-COM name on it would be good for the brand
 

I'm still wondering why you dredged up a 2 month old post just to try trolling. It may be good for the brand but they already tried three times (now four) genre changing and the last three failed. You can't just slap X-Com onto a game and make it sell. You can see why I'm holding my breath.
 
Also FPS, because all the cool kids are doing it these days and because you're designing a game aiming for the wrong fanbase to try woo in new people to a genre made for TB strategy.  Also you're pressurising some fans so that it becomes "do I buy this game because I do not like FPS but if I support this brand for a game I do not like maybe in the off chance the company might make a strategy game for me due to its increased popularity?".