It's been a while since the last news blurb about the independent Planewalker Games' Broken Hourglass project.
Planewalker Games
But one of the developers actually has an active, dated blog:
Bookwyrme's Lair: Planewalker Games
The last update was a couple days ago, so the project is still alive and well, apparently. If you're not in the know, the founders Jason Compton and Westley Weimer have been huge in the Baldur's Gate modding community. So I'm looking forward to this indie game.
Fingers crossed, anyway.