The news was a bit cryptic but, if anything, this announcement looks pretty bad for Lycoris. Nothing much happened for four months after the original big announcement. That's a pretty long time in this industry.
It sounds like they are not able to meet their original commitments from a programmer/resource perspective. Apparently, they've had some issues with their desktop product (
http://www.lycoris.org/sections.php?op=viewarticle&artid=126)
that may be diverting them from giving SME server their full attention. Joe Cheek sounds like a pretty forthright guy so I hope he rights the ship. Let's hope the problems aren't purely financial.
Regardless, it looks like Shad, Charlie, Greg and many others have gone a long way towards giving SME Server a bright future development path with the new 6.5 ISO. Thanks!