Development is still working on it; that's all I can say for now, as they run the show here and keep their plans and progress pretty close to the vest. We'll admit the new Admin project has taken much longer than anticipated; indeed, the very same cruft and complexity that have made the current Flash-based Admin nearly impossible to modify readily without breaking it have also made for very challenging work in rebuilding a replacement Admin from scratch in DHTML, which will be much more amenable to ongoing modification.
A major aspect of the challenge has been that the current Admin is not "just" an interface; it also incorporates significant layers of ActionScript that control much of the logic of how our settings and features work and interact. Rebuilding a new Admin in DHTML also means reprogramming all of that logic from scratch in other frameworks, either in browser-side JavaScript or moving chunks of the logic from the interface to new server-side scripting such as PHP. However, once this is done, new features and functionality should follow quickly and more frequently.