As far as I'm aware, it's still under development. This project is a very challenging one IMO, rather than throwing out a new Universal Midi Controller on which you will still have to do some mapping to be "universal" and work with most plugins & DAWs, I think they are trying to achieve a smoother integration using only the common & more relevant controls for soft-synths plugins. The idea behind it is to be able to switch from i.e Sylenth to Diva and still have your oscillators, filters...etc available at your fingertips on the USR-1 without doing any further mapping. The way Midi is implemented between different soft-synths & Daws make this really challenging, I know that some other developers gave up similar projects.
That how I picture what's going under the hood, but yes, would be good to have some news from @phil_Johnston about it, I will try to ask 
